Government asks traders, stockists not to enter market till May; processors in UP asked to purchase hand-to-mouth
The stock limit order currently valid until March 31, may be extended for another three months to keep stockists out of the market until June.
The Food Ministry has reportedly come up with an aggressive plan to procure about 37.3 million tonnes (mt) of wheat this year as the Centre’s buffer stock, maintained by the Food Corporation of India (FCI), may drop below the mandatory norm of 7.66 million tonnes (mt) by April 1. This will be for the first time in 16 years that wheat stocks, which are currently at 7-year low, will be below the buffer norms.