Rise in wheat price is not abnormal: Centre
New Delhi: Describing the rise in the price of wheat as “not abnormal”, it has a comfortable stock position and will intervene as and when required, the government said on Monday.
While addressing a press conference, Sudhanshu Pandey, Secretary of the Department of Food and Public Distribution, said, “Price rise is not abnormal as it is being projected or perceived.”
“We have comfortable stock positions of both rice and wheat and there is nothing to worry about and we have surpluses also available with us for market intervention as and when required,” Pandey added.
Pandey’s remarks assume significance in view of the sharp increase in wheat and wheat flour prices in recent months. According to the Food Department, the wholesale price of wheat was recorded at Rs 2,757 per quintal, which is 18.26 percent higher than the previous year (Rs 2,331 per quintal) and 11.42 percent higher than two years ago (Rs 2,474 per quintal).
In the first five months of the financial year 2022-23 i.e., April-August, Indian wheat exports have doubled from last year’s level. The Country exported 43.50 lakh metric of wheat during April-August 2022-23, which was 116.7 percent more than the corresponding months last year.
Sharing the details of the stock position, officials said 227 lakh metric tonnes of wheat were available in the central pool as on October 1, 2022, against a buffer requirement of 205 LMT as of the first day of October.