India has introduced a limit on the amount of wheat stocks traders and bulk consumers can hold in a bid to control the soaring prices of the grain in the country. Food secretary Sanjeev Chopra announced the measure on Monday, along with the news that India will supply 1.5 million tonnes of wheat to bulk consumers such as flour millers to help reduce prices, which have surged by 8% in the last month. Chopra blamed the rises on “unscrupulous elements” hoarding wheat stocks. Despite procurement falling below expectations, Chopra asserted that there is no need to import wheat to meet demand, as stocks remain sufficient. Similarly, India will also sell rice to bulk consumers to try to alleviate price increases.
India limits wheat stocks to curb rising prices
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