Govt imposes stock limits on wheat to check hoarding, price rise
New Delhi (PTI): In a move to check wheat price rise and hoarding, the Centre on Monday imposed stock holding limits on traders, wholesalers, retailers and processors with immediate effect.
The restrictions will remain in force until March 31, 2025, across all states and Union Territories.
Under the new rules, retail outlets and individual stores of big chain retailers are allowed to stock up to 10 tonnes of wheat, an official statement said.
Traders, wholesalers, and large depots of big chain retailers face a cap of 3,000 tonnes each.
For processors, the limit is set at 70 per cent of their monthly installed capacity (MIC) multiplied by the remaining months of the 2024-25 fiscal.
The government has mandated all entities to declare their stock position and regularly update it on the Department of Food and Public Distribution's portal (https://evegoils.nic.in/wsp/login). Those holding stocks exceeding the prescribed limits have been given a 30-day window to comply with the new norms.
The decision comes after a high-level meeting, chaired by Home Affairs and Cooperation Minister Amit Shah, held last week, where officials were directed to monitor wheat prices closely.
The government had then signalled its readiness to intervene in the market to ensure price stability for consumers.
Official data reveals that wheat and wheat flour prices have risen by up to Rs 2 per kg compared to last year.
As of June 20, the average retail price of wheat stood at Rs 30.99 per kg up from Rs 28.95 a year ago. Wheat flour prices have also climbed to Rs 36.13 per kg against Rs 34.29 per kg last year.
The government maintains that it has sufficient wheat stocks to meet the requirements of the Public Distribution System (PDS) and other welfare schemes, which amount to approximately 18.4 million tonnes.
As of June 18, the government procured 26.6 million tonnes of wheat for the central pool in the 2024-25 rabi marketing year, marginally higher than the 26.2 million tonnes procured in the preceding year.
The stock limit intervention is seen as a preemptive measure to check unscrupulous speculation and ensure that wheat prices remain stable in the coming months.
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Man arrested with Rs 2.54-crore heroin in Mumbai
Mumbai (PTI): Police have arrested a man and seized over 500 grams of heroin worth Rs 2.54 crore in the illicit market from him in Mumbai, officials said on Friday.
The police's Anti-Narcotics Cell (ANC) made the drug seizure in Santacruz in the western suburbs. The operation was conducted by the Kandivali unit of the ANC on Thursday as part of a special crackdown against drug trafficking in the area, they said.
Acting on specific inputs, an ANC team conducted a raid in Santacruz (East) and intercepted a man. During a search, the team recovered 508 grams of high-grade heroin from his possession, an official said.
The seized contraband, a highly addictive, opioid drug derived from morphine, is estimated to be worth Rs 2.54 crore in the international market, he informed.
Following the seizure, a case was registered against the man under relevant sections of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985, and he was formally placed under arrest in the early hours of Friday.
The police are currently investigating the source of the drug and trying to identify the intended recipients of the consignment, he said.
