Govt orders mandatory declaration of stock position of wheat

Mandatory declaration: The government has rolled out stringent measures with effect from April 1, 2024, traders, wholesalers, and retailers, including big chain retailers and processors, are mandated to divulge their wheat and rice stock positions on a designated portal every Friday. This move follows the expiration of the Wheat Stock Limit on March 31, 2024.

The directive, enforced by the Department of Food and Public Distribution, highlights the government's proactive stance in monitoring commodity markets. It aims to thwart hoarding tendencies and ensure market transparency. Non-compliance could potentially lead to penalties, underscoring the gravity of the situation for businesses operating in the food sector. 

This development signifies a concerted effort to uphold food security and stabilise prices, crucial for sustaining economic equilibrium in the country's food ecosystem.