Govt further cuts stock limit on wheat traders

Sandeep Dikshit

New Delhi, September 14

The government on Thursday further reduced the stock limit on wheat traders, wholesalers and big chain retailers to 2,000 tonnes from 3,000 tonnes with immediate effect amid uptick in prices.

On June 12, the government had imposed a stock limit of 3,000 tonnes on wheat traders till March next year. The stock limit has now been reduced to 2,000 tonnes as the government found an “uptick in the wheat prices on the NCDEX by 4 per cent to Rs 2,550 per quintal in the past one month,” said Food Secretary Sanjeev Chopra at a press conference.

WPI in negative for 5th month in row

WPI-based inflation remained in the negative territory for the fifth successive month in August at (-) 0.52% though it rose sequentially from the previous month on account of firm prices of food items. The rate has been negative since April.