he Indian government has stated that it is monitoring wheat prices and will take the necessary action to stop the unusual price increase.
New Delhi: Wheat prices have been rocketing, resulting in a huge increase in the price of flour. As a result, ordinary people are faced with the daunting task of determining how to run their families. The Indian government has stated that it is monitoring wheat prices and will take the necessary action to stop the unusual price increase.
According to the Food Corporation of India, the government is purchasing more of the Kharif crop this year than it did last. Sanjeev Chopra, the secretary of the Department of Food and Public Distribution, stated that the government predicted minimum support price for farmers for the years 2022 and 2023 is estimated to be roughly 775.73 lakh metric tonnes, to which the minimum support price to the farmers paid by the government is projected to be Rs 159800.38 crore. He said it was above the buffer requirements of the government.
The ministry reports that as of November 21, Punjab has purchased 178.83 lakh metric tonnes of kharif crops, which is less than the 1182.48 lakh metric tonnes obtained the year before. As a result, Haryana procured 59 lakh metric tonnes this year, compared to 55 lakh metric tonnes the previous year. The delay in rainfall and moisture in the paddy caused the procurement in Punjab to start very late, according to the secretary of food and distribution, and it is likely to meet the intended procurement shortly.
The Consortium of Farmers recently met with Nirmala Sitharaman, the Union Finance Minister, to discuss removing restrictions on wheat exports. According to the Minister’s secretary, food security comes before all other concerns, and the right decision to use the export restriction will be made in accordance with that.
The CMD of Food Corporation of India, Ashok Meena, stated that “wheat procurement decreased due to the global scenario, at 188 LMT compared to 433 LMT last year.”