The government has said that wheat prices are being closely monitored and their rise since the ban on exports in May this year has only been 7 per cent in retail. Food Secretary Sanjeev Chopra has said that the ban on wheat exports has led to a rise in stock availability. He said wheat prices have gone up only by 7 per cent in retail. However, he added that if the hike in MSP is considered then the price rise is only around 5 per cent.
He further said that wheat and rice stocks position is comfortable and much above the government's buffer requirements. Government had banned exports of wheat in May this year to boost domestic supplies and control prices. Subsequently its wheat procurement fell to 187.92 lakh tonnes in 2022-23 marketing year from 434.44 lakh tonnes due to fall in domestic output and aggressive purchase by private parties.
He also said that the government wasn't considering any further steps like stockholding limits and open market sale scheme to check wheat prices. In September, the government had also banned exports of broken rice due to an anticipated fall in production of rice. He noted that an inter-ministerial committee is monitoring the prices of essential commodities on a weekly basis.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: