In order to prevent price hike, the government has given permission to start wheat sales from August through open market. The food ministry has fixed Minimum Sale Price of wheat at Rs 2325 per quintal for millers, which is lower compared to current market price of Rs 2400 per quintal. Besides, government is likely to lift the rice export ban in response to urge by exports. The government has fixed Minimum Sale Price of rice at Rs 2,800 per quintal to bulk buyers. These prices do not include transportation charges from Food Corporation of India (FCI) depots.
In June 2024, the Government of India had imposed stock limits on Wheat applicable to Traders/Wholesaler, Retailers, Big Chain Retailers and Processors for all States and Union Territories. The Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2024 has been issued with immediate effect from June 24, 2024 and will be applicable until March 31, 2025 for all States and Union Territories.
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