: ‘Spike in wheat prices due to speculative trade’ #FinanceIndia #StockMarketNEWS #Business Government to act against hoarders: Food Secretary New Delhi: India has enough wheat stock but the

@StockMarketNEWS Mon 26 Sep, 2022

Posted in: #FinanceIndia #StockMarketNEWS #Business

‘Spike in wheat prices due to speculative trade’ #FinanceIndia #StockMarketNEWS #Business
Government to act against hoarders: Food Secretary



New Delhi: India has enough wheat stock but the spike in retail prices is due to speculating trading, Food Secretary Sudanshu Pandey said on Monday and warned of taking stringent action against hoarders.



Retail prices of wheat have risen by 19% to `31. 02 per kg from `26. 01 per kg a year-ago. Wheat flour price too have increased by 18 per cent to `36 per kg in the same period.



The inflationary trend in wheat has forced the government not only to ban export of the crop but also impose curbs on outbound shipment of some by-products of wheat.



Addressing the 82nd AGM of Roller Flour Millers Federation of India, Pandey said the Centre has options to check hoarding of wheat stock by making it mandatory for traders to disclose the stock held by them, besides imposing stock holding limit on both retailers and wholesalers.



“There is no problem of wheat availability within the country. Overall quantity which we need for domestic requirement is available in the country,??? he said.



He also said state-run Food Corporation of India has comfortable wheat stock position at



24 million tonnes.



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