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Wheat Price Update: Modi government has told another good news to the general public, now they will get this gift before 2023 Diwali!

Wheat Price Update: Several steps are being taken by the Central Government to make wheat cheaper. To control the rise in wheat prices, the government is considering all other options including reduction in import duty.

Wheat Price Update: Several steps are being taken by the Central Government to make wheat cheaper. To control the rise in wheat prices, the government is considering all other options including reduction in import duty. Food Secretary Sanjeev Chopra gave this information on Friday. In the case of rice, he said that India has so far received a request for supply of 80,000 tonnes of rice from Bhutan at the government level.

Last year, the government had banned the export of wheat to control domestic availability and rising prices in retail markets. To control the prices of wheat and flour, the government is selling wheat stock in the open market to flour mills and other traders.

Government is considering the option

Chopra told reporters that wheat prices have increased since the last auction. The government is considering all available options and will take an appropriate decision. Under the Open Market Sale Scheme (OMSS), the government has decided to sell 1.5 million tones of wheat from the central pool to flour mills, private traders, bulk buyers and manufacturers of wheat products by March 2024 to curb prices.

Decreased production due to heat

The wheat production of the country had declined to 107.74 million tones in the 2021-22 crop year (July-June) from 109.59 million tones in the previous year due to heatwave in some producing states. As a result, government procurement has come down from around 43 million tones last year to 19 million tones this year.

Wheat production will increase

Explain that in 2022-23, the production of wheat is estimated to increase to 11 crore 27.4 lakh tones due to more area under cultivation and better yield. Regarding rice, the secretary said that India has so far received a request for supply of 80,000 tones of rice from Bhutan at the government level. The government has banned the export of broken rice and non-basmati white rice to curb domestic prices.

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