India Anticipates Record Wheat Harvest Amid New Stock Regulations

India is expected to harvest a record wheat crop in the current rabi season due to increased acreage and favorable weather. With production predicted to exceed the previous year's record, the government has imposed tighter stock limits on wheat to regulate prices and ensure food security.

India is gearing up for an unprecedented wheat harvest in the current rabi season, fueled by increased planting areas and favorable weather conditions. The Union Agriculture Minister, Shivraj Singh Chouhan, confirmed the outlook for a bumper crop year, highlighting the robust health of the crops thus far.

In response to the promising forecasts, the Department of Food and Public Distribution has implemented stricter stock limits for wheat holdings by wholesalers, retailers, and processors. The aim is to keep wheat prices stable and ensure the grain's availability across the nation, as emphasized by Agriculture Secretary Devesh Chaturvedi.

The new stock regulations, part of the government's efforts to mitigate price volatility and prevent hoarding, will remain in effect until the end of March 2025. Entities holding wheat are required to register and regularly update their stock positions, with non-compliance leading to punitive measures under the Essential Commodities Act of 1955.

(With inputs from agencies.)