New Delhi [India], The Ministry of Food and Consumer Affairs on Thursday said there is no proposal at present to change the duty structure on wheat imports.
"At present, there is no proposal to change the duty structure on wheat imports," the ministry said in a statement.
The objective of this decision of the Ministry is to maintain the existing market conditions and prevent any possible disruption due to change in import duty.
The government is also keeping a close watch on the market price of wheat to curb hoarding and black marketing of wheat.
"The Department of Food and Public Distribution under the Ministry of Consumer Affairs, Food and Public Distribution is keeping a close watch on the market price of wheat," the Ministry of Consumer Affairs, Food and Public Distribution said.
The ministry also directed the department to ensure that there is no hoarding by unscrupulous elements and the price remains stable.
The ministry said wheat production during RMS (Rabi Marketing Season) 2024 has reached 112 million metric tonnes. Food Corporation of India (FCI) has procured approximately 266 lakh metric tonnes (LMT) of wheat during RMS 2024 till 11.06.2024.
The ministry also said that after meeting the requirements of the Public Distribution System (PDS) and other welfare schemes, which is about 184 LMT, adequate stocks of wheat will be available for market intervention if required. The objective of this measure is to keep wheat prices stable and prevent any undue shortage in the market.
Buffer stocking norms for wheat vary by quarter. As of January 1, 2024, the wheat stock stood at 163.53 LMT, which was more than the prescribed buffer norm of 138 LMT.
This indicates that wheat stocks have consistently remained above the quarterly buffer stock norms, thereby ensuring that there is no shortage of supply at any point of time.
"At present, there is no proposal to change the duty structure on wheat imports," the ministry said in a statement.
The objective of this decision of the Ministry is to maintain the existing market conditions and prevent any possible disruption due to change in import duty.
The government is also keeping a close watch on the market price of wheat to curb hoarding and black marketing of wheat.
"The Department of Food and Public Distribution under the Ministry of Consumer Affairs, Food and Public Distribution is keeping a close watch on the market price of wheat," the Ministry of Consumer Affairs, Food and Public Distribution said.
The ministry also directed the department to ensure that there is no hoarding by unscrupulous elements and the price remains stable.
The ministry said wheat production during RMS (Rabi Marketing Season) 2024 has reached 112 million metric tonnes. Food Corporation of India (FCI) has procured approximately 266 lakh metric tonnes (LMT) of wheat during RMS 2024 till 11.06.2024.
The ministry also said that after meeting the requirements of the Public Distribution System (PDS) and other welfare schemes, which is about 184 LMT, adequate stocks of wheat will be available for market intervention if required. The objective of this measure is to keep wheat prices stable and prevent any undue shortage in the market.
Buffer stocking norms for wheat vary by quarter. As of January 1, 2024, the wheat stock stood at 163.53 LMT, which was more than the prescribed buffer norm of 138 LMT.
This indicates that wheat stocks have consistently remained above the quarterly buffer stock norms, thereby ensuring that there is no shortage of supply at any point of time.
