Rise in wheat price not abnormal, will intervene when required: Centre

Pandey’s remarks assume significance in view of the sharp increase in wheat and atta (wheat flour) prices in recent months. According to the Food Department, the wholesale price of wheat was recorded at Rs 2,757 per quintal, which is 18.26 per cent higher than a year ago (Rs 2,331 per quintal) and 11.42 per cent higher than two years ago (Rs 2,474 per quintal).

Asked when the government would intervene, Pandey said: “When the government feels the increase is abnormal, it will intervene.”

“We have comfortable stock positions of both rice and wheat and there is nothing to worry about and we have surpluses also available with us for market intervention as and when required,” Pandey said.

On Monday, The Indian Express had reported that during the first five months (April-August) of financial year 2022-23, Indian wheat exports have doubled from last year’s level. India exported 43.50 lakh metric tonnes (lmt) of wheat during April-August 2022-23, which was 116.7 per cent more than the corresponding months last year.

Sharing the details of the stock position, officials said 227 lakh metric tonnes of wheat were available in the central pool as on October 1, 2022, against a buffer requirement of 205 LMT as on the first day of October.