In order to prevent hoarding and unscrupulous speculation, the government has lowered the stock limit of wheat that traders can hold, the government said in a statement on Thursday. It revised downwards wheat stock limit from 500 MT to 1,000 MT for traders or wholesalers.

“All wheat stocking entities are required to register on the wheat stock limit portal (https://evegoils.nic.in/wsp/login) and update the stock position on every Friday. Any entity which is found to have not registered on the portal or violates the stock limits will be subject to suitable punitive action under Section 6 & 7 of Essential Commodities Act, 1955,” the Ministry of Consumer Affairs, Food and Public Distribution said in the statement.

According to the official release, wheat stock limit has been reduced from 1,000 MT to 500 MT for traders and wholesalers, from 70 per cent (of monthly installed capacity multiplied by the remaining months of 2023-24) to 60 per cent (of monthly installed capacity multiplied by remaining months till April 2024).

For big chain retailers, the wheat stock limit has been reduced from 1,000 MT at all their depots to 500 MT.

For retailers, the wheat stock limit has been kept unchanged at 5 MT for each retail outlet, according to the statement.

“In case the stocks held by above entities are higher than the above prescribed limit, they shall have to bring the same to the prescribed stock limits within 30 days of issue of the notification. Officials of Central and State Governments will be closely monitoring enforcement of these stock limits to ensure that no artificial scarcity of wheat is created in the country,” according to the official statement.