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LATEST NEWS UPDATES | Govt eyes stern steps to check food prices -Zia Haq

Govt eyes stern steps to check food prices -Zia Haq

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published Published on Sep 23, 2022   modified Modified on Sep 27, 2022

-Hindustan Times

The government is considering price-control measures, such as asking traders to declare their available wheat stocks, and a crackdown on hoarding of grains, he said.

India has ample wheat for federally run welfare programmes but speculative trading has pushed up cereal prices, prompting the government to consider measures, such as disclosure of stocks by private traders, a senior official said.

The Union government is watching price and stock movements closely and even with lower output this year, there should be not be a supply-demand mismatch because harvests have been adequate to meet domestic requirements until the next crop, food secretary Sudhanshu Pandey said.

The government is considering price-control measures, such as asking traders to declare their available wheat stocks, and a crackdown on hoarding of grains, he said.

“The Food Corporation of India has 24 million tonnes of wheat. There is no shortage for welfare schemes and for domestic consumption. Prices are rising because of speculative trading,” Pandey said.

The government will take steps to ensure stocks are released into markets, he added. The government could even impose limits on how much reserves traders can hold to increase availability in the open market.

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Hindustan Times, 23 September, 2022, https://www.hindustantimes.com/cities/delhi-news/govt-eyes-stern-steps-to-check-food-prices-101663869134778.html


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