No proposal to alter the duty structure on imports of wheat: Department

The Food Corporation of India (FCI) has procured approximately 266 lakh MT (26.6 million MT) of wheat as of 11th June 2024 during RMS 2024.

The Department of Food and Public Distribution, operating under the Ministry of Consumer Affairs, Food and Public Distribution, has intensified monitoring of wheat market prices to prevent hoarding and maintain stability. With the conclusion of the Rabi Marketing Season (RMS) 2024, India has achieved a record wheat production of 112 million metric tonnes (MT). The Food Corporation of India (FCI) has procured approximately 266 lakh MT (26.6 million MT) of wheat as of 11th June 2024 during RMS 2024.

Following allocations for the Public Distribution System (PDS) and other welfare schemes, amounting to about 184 LMT (18.4 million MT), surplus wheat stocks are available for potential market interventions as necessary. As of 1st January 2024, the wheat stock stood at 163.53 LMT, surpassing the prescribed buffer norm of 138 LMT for that quarter. Throughout the period, wheat stocks have consistently met or exceeded quarterly buffer stock norms, ensuring stability in supply.

Currently, there are no plans to revise the duty structure on wheat imports. The government remains vigilant and prepared to implement suitable measures to uphold market equilibrium and safeguard consumer interests amidst ample domestic production and procurement achievements.