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“Rice costs are simply flat. Wheat costs have gone up by 7 % in retail after the imposition of wheat ban in Might and if we bear in mind the rise in minimal assist value (MSP), the value rise is 4-5 per cent,” he mentioned.
Chopra mentioned that no determination has been taken but on Open Market Sake Scheme (OMSS) of wheat to chill down the costs including that the inventory place of wheat and rice are snug and greater than the buffer norms.
The federal government may have 113 LMT of wheat on April 1, 2023 in opposition to the buffer inventory of 75 LMT required. The projected inventory place of rice as of April 1, 2023 is 237 LMT in opposition to the buffer norm of 137 LMT.
The federal government has procured 277.37 LMT of paddy as on November 21 this yr in comparison with final yr’s 263.42 MT throughout the identical interval. Nevertheless, its wheat procurement fell to 187.92 lakh tonnes within the 2022-23 advertising and marketing yr from 434.44 lakh tonnes attributable to fall in home output and aggressive purchases by non-public events.
On edible oil, Chopra mentioned the retail costs of cooking oils are on a downward development and charges are more likely to scale back additional.
In Might, the federal government had banned exports of wheat to augur home provides and preserve costs underneath management. In September, it additionally banned exports of damaged rice.
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