Sufficient Wheat Supply Ensures Price Stability
Food Secretary Sanjeev Chopra announced no need to release wheat from government stocks under the Open Market Intervention Scheme due to stable prices and adequate supplies. The Open Market Sale Scheme regulates wheat supply and prices by selling surplus from the central pool. Recent figures show decreased OMSS sales compared to previous years.
- Country:
- India
The Food Secretary, Sanjeev Chopra, assured that releasing wheat from government stocks through the open market intervention scheme is unnecessary, citing stable prices and sufficient supplies.
This statement comes as the Open Market Sale Scheme, a mechanism to control wheat supply and pricing, continues its operations by selling excess stocks from the Food Corporation of India's reserves directly to the market.
India's wheat production reached an all-time high of 117.5 million tonnes for the 2024-25 crop year, although sales under the scheme decreased from 10.1 million tonnes in 2023-24 to 3 million tonnes in the 2024-25 fiscal year.
(With inputs from agencies.)
Advertisement
ALSO READ
Zombie Thrills: 'All of Us Are Dead' Season 2 Kicks Off Production
Return to the Apocalypse: 'All of Us Are Dead' Season 2 in Production
Revolutionizing Industries with the Production Intelligence Centre by Altizon
Himadri Speciality Chemical Ltd: Leading the Charge in Sustainable Supply Chains
China Sizzles Under Record Heat: Power Supply Crisis Looms
Google News