Flour Millers of India – Roller Flour Millers’ Federation of India (RFMFI) has asked the Union Government to address the ‘volatile’ market condition of wheat, which is hampering the operations of millers.
A delegation of the federation met with Sudhanshu Pandey, Secretary, Food, GoI, recently to apprise him about the fluctuation market has been witnessing over the past few weeks resulting in shooting of wheat prices by Rs 300-350 per quintal across the country.
Anjani Agarwal, president, RFMFI, stated that the prices of wheat have increased by Rs 300-350 per quintal across the country in the last fortnight and there is still uncertainty of stabilisation in the near future.
“Millers are buying wheat at Rs. 2400-2800 per quintal in the major wheat growing area and between Rs. 2750 and 2850 in other parts of the country and selling their products accordingly after adding the processing charges and milling margins. This is a very abnormal development as the harvesting season has just ended and there are still eight months for the next crop to arrive,” said Agarwal.
He alleged that the big ‘multinationals’ have monopolised the market condition and the Government should therefore take corrective measures before the situation becomes alarming and spirals out of control.
Meanwhile, Secretary Pandey told the delegation that the Union Government is ‘closely monitoring’ the situation and shall take appropriate action to control the prices to ensure supplies of wheat to the millers.
He told the delegation that the Government has sufficient stocks of wheat of around 26MMT which is enough to cover the welfare schemes and buffer stocks.
The Secretary assured the flour millers that there will be immediate intervention by the Government if the situation persists and there will be a review meeting in the next fortnight.