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HomeBusinessAfter Curbs On Exports, Prices Of Wheat And Sugar Stable: Food Secretary

After Curbs On Exports, Prices Of Wheat And Sugar Stable: Food Secretary

Food Secretary Sudhanshu Pandey mentioned after export curbs, costs of wheat and rice are secure

New Delhi:

Retail costs of wheat, rice, sugar and edible oils are displaying a declining pattern after the measures taken by the federal government, together with curbs on exports of wheat and sugar, Food Secretary Sudhanshu Pandey mentioned on Thursday.

Amid rising inflation, the Government, on May 13, banned exports of wheat. Thereafter, it capped sugar exports at 10 million tonnes for this 12 months and previous to that, duties on key edible oils had been diminished. Besides, inventory limits on edible oils and oilseeds are in place to test hoarding.

“After a number of steps we took, it is showing its impact despite all challenges. I am not saying that challenges have suddenly vanished. They continue to be there. Despite those challenges, prices are behaving in the manner was intended due to those interventions,” Mr Pandey informed reporters.

The common retail worth of wheat flour (atta) has declined by 0.30 per cent to Rs 33.4 per kg in every week whereas wheat fee has additionally confirmed a declining pattern and stood at Rs 29.8 per kg on June 1, he mentioned.

“In wheat, the trend (in price) is reversing. There was 0.74 per cent increase in retail wheat price 19 days before export of wheat was banned. Now, there is only 0.47 per cent increase in wheat rate,” the Food Secretary mentioned.

An identical pattern was seen in wholesale worth of wheat and wheat flour, he mentioned.

In the case of rice, the secretary mentioned the typical costs are ruling secure and actually have confirmed a marginal decline in each retail and wholesale markets.

The common rice costs dominated at Rs 36.1 per kg in retail markets whereas it was at Rs 31.40 per kg in wholesale markets on June 1.

In the case of edible oils, he mentioned the worldwide costs of soyabean and sunflower had risen greater than 35 per cent a 12 months again, however the enhance in home manufacturing insulated the native costs from world affect.

“Over the week, edible oil prices are showing a declining trend,” the official knowledgeable.

There was a fall within the common retail worth of groundnut oil by 0.24 per cent to Rs 186.43 per kg on June 1 from over every week, by 0.70 per cent in mustard oil to Rs 183.68 per kg, by 0.39 per cent in soyabean oil to Rs 169.41 per kg, and 0.69 per cent in RBD palmolein at Rs 156.4 per kg within the mentioned interval.

In the case of sugar too, common retail worth is now ruling at 41.50 per kg. The sugar worth has diminished by Rs 0.50 per kg in previous one month, he added.

Asked when the curbs on these commodities can be eased, the Secretary mentioned, “the situation is extraordinary and the responsibility of the government to consumers is equally there. While on production side, we are giving lot of support to farmers but on other consumer side also, adequate is required to provide that comfort.” 

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