Centre Confirms Adequate Wheat Stock for Potential Market Interventions

New Delhi: A high-level meeting of the Committee of Ministers was convened today under the chairmanship of the Union Minister of Home Affairs and Cooperation. The session focused on reviewing the current prices of essential commodities, with a particular emphasis on wheat stocks and prices.

The committee discussed the procurement status of wheat for the Rabi Marketing Season (RMS) 2024. As of June 18, 2024, approximately 266 Lakh Metric Tonnes (LMT) of wheat have been procured, showing a slight increase from the 262 LMT procured during the same period in RMS 2023. After meeting the Public Distribution System (PDS) and other welfare scheme requirements, which amount to around 184 LMT, there is sufficient wheat stock available to implement market interventions if necessary.

The Union Minister of Home Affairs and Cooperation stressed the importance of maintaining price stability for consumers. “A close watch must be kept on the prices of wheat,” he directed, adding that suitable policy interventions should be undertaken to ensure price stability for consumers across the country.