GOVT ORDERS MANDATORY DECLARATION OF STOCK POSITION OF WHEAT FROM TODAY

An outlook for Indian wheat production presented by BMI, a Fitch Solutions entity, has forecast that India's wheat production will rise to 110mn tonnes in 2023/24, which will represent an all-time record harvest volume.

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In order to manage the overall food security Land to prevent hoarding and unscrupulous speculation, the Government has made it mandatory for traders/wholesalers, retailers, big chain retailers and processors in all states and union territories to declare their stock position of wheat on the portal (https://evegoils.nic.in/wheat/login.html) from 1 April, 2024 and then, on every Friday till further orders. All the respective legal entities to ensure that stock are regularly and correctly disclosed on the portal. Rice stock declaration by all categories of entities is already in-place.

Furthermore, with the expiration of the wheat stock limit on March 31, 2024, applicable to all categories of entities in states and UTs, entities are now required to disclose their wheat stock on the portal. The Department of Food and Public Distribution is maintaining a close watch over the stock position of wheat and Rice to control prices and ensure easy availability in the country.