Monday, February 26, 2024

Big relief to common people from inflation, flour prices reduced by how much in one month

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Common people seem to be getting great relief from inflation. Many steps have been taken especially to reduce the price of flour. Due to which there has been a big decline in the price of flour in the last one month. According to data, after several steps taken by the central government, prices of flour or wheat flour have fallen by 5-7 percent in the last one month and are likely to remain low for the next two-three months. Let us also tell you how much the price of flour has increased.

Steps taken by the government

Unlike rice prices, wheat prices are clearly reflecting the impact of various government measures announced this month. On December 8, the central government halved the stock limits of traders, wholesalers and retailers, processors and large retailers to manage overall food security and prevent hoarding and dishonesty. The government has increased the weekly volume to be supplied by Food Corporation of India through e-auction from 300,000 tonnes to 400,000 tonnes, while the quantity of wheat supplied to Bharat Atta has been increased from 250,000 tonnes to 400,000 tonnes by the end of January 2024. Tons have been made.

How much has the price of flour reduced?

Ex-factory prices of flour have fallen to Rs 28-29 per kg in most parts of the country. The price of branded flour takes longer to fall compared to loose flour sold in 50 kg bags, which forms the largest segment of flour sold in the country. Kunj Gupta, Director, Bhawani Flour Mills Limited, said in a media report that flour prices have come down mainly due to the availability of wheat as the government has increased the allocation of wheat in the open market sale scheme.

India’s retail inflation

Traders and mill owners said in media reports that they have reduced their wheat purchases to liquidate earlier stocks, which they had purchased at higher rates. According to official data released this month, India’s retail inflation increased from 4.87 percent in October to 5.5 percent in November. In the case of rice, despite the ban on export of non-Basmati rice in July, retail prices did not soften much, due to which the government directed the rice industry in the country to cut retail prices with immediate effect. The weightage of rice and wheat in the wholesale price index is 1.43 percent and 1.03 percent respectively.

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