New Delhi: India has enough wheat reserves to meet domestic needs and intervene in the market to keep prices stable if needed, the government said on Thursday, adding that it is considering changing the import duty on the grain for the time being. That he has no plans.
The Department of Food and Public Distribution under the Ministry of Consumer Affairs, Food and Public Distribution is closely monitoring the market price of wheat, it said in a statement.
"As necessary, appropriate interventions will be taken to ensure that there is no hoarding by unscrupulous elements and the price remains stable," the statement said.
During the 2024 Rabi marketing season, the department reported wheat production at 112 million tonnes. State-owned Food Corporation of India (FCI) has purchased about 26.6 million tonnes of grains till June 11.
It said that after meeting the requirement of about 18.4 million tonnes of the Public Distribution System and other welfare schemes, sufficient wheat stocks will be available for market intervention if needed.
The quarterly buffer stock varies throughout the year. It said that as of January 1, 2024, wheat stocks stood at 16.35 million tonnes against the prescribed buffer norm of 13.8 million tonnes.
"The wheat stock has not fallen below the quarterly buffer stock norms at any point of time. Further, at present, there is no proposal to change the duty structure on wheat imports," the statement said.
The Department of Food and Public Distribution under the Ministry of Consumer Affairs, Food and Public Distribution is closely monitoring the market price of wheat, it said in a statement.
"As necessary, appropriate interventions will be taken to ensure that there is no hoarding by unscrupulous elements and the price remains stable," the statement said.
During the 2024 Rabi marketing season, the department reported wheat production at 112 million tonnes. State-owned Food Corporation of India (FCI) has purchased about 26.6 million tonnes of grains till June 11.
It said that after meeting the requirement of about 18.4 million tonnes of the Public Distribution System and other welfare schemes, sufficient wheat stocks will be available for market intervention if needed.
The quarterly buffer stock varies throughout the year. It said that as of January 1, 2024, wheat stocks stood at 16.35 million tonnes against the prescribed buffer norm of 13.8 million tonnes.
"The wheat stock has not fallen below the quarterly buffer stock norms at any point of time. Further, at present, there is no proposal to change the duty structure on wheat imports," the statement said.
