India: Centre says ample wheat stock available amid price surge, weighs intervention

Amid the rising wheat prices, the Centre stated on Thursday that it has sufficient wheat stocks to intervene in the market to ensure the stability of consumers in the country.

A meeting of the committee of ministers was held on Thursday under the chairmanship of Union Minister of Home Affairs and Cooperation Amit Shah.

After the meeting, Amit Shah directed officials to keep a close watch on the prices of wheat and ensure to undertake suitable policy interventions.

According to the official data, wheat prices have spiked by up to Rs 2 per kilogram from a year ago, news agency PTI reported.

As of June 20, the average retail price of wheat was Rs 30.99 per kg, an increase from Rs 28.95 per kg compared to last year. Similarly, the price of wheat flour rose to Rs 36.13 per kg from Rs 34.29 per kg last year, according to the data PTI reported.

Meanwhile, the centre assured that the government has procured more wheat for the central pool than last year.

By June 18, Centre had procured around 266 lakh metric tons (LMT) of wheat in the 2024–25 rabi marketing year, which began on April 1, slightly higher than 262 LMT in the last year.

“After meeting the requirement for PDS and other welfare schemes, which is approximately 184 LMT, sufficient stock of wheat is available to undertake market interventions as and when required,” the Centre said.

Tags: wheat, stocks, Market, prices