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The federal government on Monday mentioned the worth rise in wheat and rice has been “regular” and it’ll intervene out there to dump the grains if there may be any irregular improve within the charges.
Meals Secretary Sudhanshu Pandey, in a press briefing, additionally mentioned the federal government has surplus shares of each wheat and rice in its godowns which can be used for making market intervention.
“Value rise just isn’t irregular because it has been perceived and projected…,” Pandey mentioned.
Citing the instance of wheat, he mentioned the worth rise is regular because the final 12 months’s wholesale worth was depressed as the federal government offered large portions underneath its Open Market Sale Scheme (OMSS) to bulk customers, he mentioned.
The entire worth of wheat was ruling at Rs 2,331 per quintal on October 14, 2021, as in opposition to Rs 2,474 per quintal on the identical day in 2020, he added.
“Due to this fact, it’s not advisable to check the present 12 months’s improve in wheat with final 12 months’s. It must be in contrast with costs that prevailed in 2020,” Pandey defined.
When put next with 2020 charges, there may be an 11.42 per cent improve in wholesale wheat costs at Rs 2,757 per quintal and 12.01 per cent in retail wheat costs at Rs 31.06 per kg as on October 14 this 12 months.
Asserting that this worth improve in wheat just isn’t “astronomical, the Secretary mentioned it’s in tune with the rise within the minimal assist worth, gas and transportation and different bills.
He additional mentioned there may be “nothing to fret” as of now as the federal government has a cushty inventory of each wheat and rice in its godowns because the procurement has been greater than the requirement underneath the PDS and different welfare schemes.
The federal government had a wheat inventory of 227 lakh tonnes greater than the buffer norm of 205 lakh tonnes until October 1. Equally, rice shares had been at 205 lakh tonnes, greater than 103 lakh tonnes within the mentioned interval, the Meals Company of India (FCI) Chairman Ashok Okay Okay Meena mentioned within the presentation.
The projected inventory of wheat and rice until April 1, 2023, can be a lot greater than the traditional buffer norms even after assembly the free grain provide underneath the Pradhan Mantri Garib Kalyan Anna Yojana, Nationwide Meals Safety Act and different welfare necessities, he added.
Meena mentioned the federal government is effectively conscious and often monitoring the worth state of affairs of important commodities and taking corrective steps, as required.
The federal government has taken proactive steps to keep away from any additional worth rise and export rules had been imposed in case of wheat from Could 13 and from Could 8 in case of damaged rice to a right away containment within the costs of wheat and rice.
Meena additionally mentioned manufacturing of wheat within the ongoing rabi (winter) season, which began on October 1, is anticipated to be regular.
Procurement of kharif (summer season) paddy within the present 2022-23 has commenced. A amount of round 58 lakh tonne paddy (39 lakh tonne by way of rice) has been procured as much as October 16 which is greater than a year-ago interval. It’s anticipated that procurement of paddy goes to be regular this 12 months, he added.
(Solely the headline and movie of this report might have been reworked by the Enterprise Normal workers; the remainder of the content material is auto-generated from a syndicated feed.)
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