Food Secretary to the Government of India, Sudhansu Pandey said that the price rise in wheat and rice has been "normal". He added that the Government will intervene in the market to offload the grains if there is any abnormal increase in the rates.
During a press meet, Pandey said that the government has surplus stocks of both wheat and rice in its godowns which will be used for making market intervention.
Giving the example of wheat, Pandey said that “the price rise is normal as the last year's wholesale price was depressed as the government sold huge quantities under its Open Market Sale Scheme (OMSS) to bulk consumers.”
According to national media reports, the whole price of wheat was ruling at Rs 2,331 per quintal on October 14, 2021, as against Rs. 2,474 per quintal on the same day in 2020.
"Therefore, it is not advisable to compare the current year's increase in wheat with last year's. It should be compared with prices that prevail in 2020,” said Pandey.
Compared to the rates of 2020, there is an 11.42 percent increase in wholesale wheat prices at Rs 2,757 per quintal and 12.01 percent in retail wheat prices at Rs 31.06 per kg as on October 14, 2020.
The Secretary further said that it is in tune with the increase in the minimum support price, fuel and transportation and other expenses.
ALSO READ : Log huts inaugurated in Tripura to attract tourists.
FIRST Business Portal addressing the potential of business capability of North East Region.
