The flour industry players will meet the food secretary to discuss their concerns. Because the flour business is on edge, it will be meeting with the food secretary this week to discuss the industry concerns.
It is predicted that if the government does not interfere in order to slow the rapid rate of exports, flour prices will rise by another ten percent in the next two to three months. Wheat availability has become scarce as a result of heavy buying by private traders, quick exports, and holding by farmers.
Millers are unable to decide whether or not to increase their stock levels in order to hedge against future price increases because the government has the authority to impose stock restrictions in the future in order to regulate pricing, as it did with cooking oils and pulses.
‘The four milling industry is currently experiencing a state of panic. This is the first time we’ve ever witnessed something like this. At the height of the harvest season, we are finding it difficult to purchase wheat at the best possible price’ Navneet Chitlangia, vice president of the All India Roller Flour Mills Association, shared his thoughts.
Trade sources claim that wheat from Uttar Pradesh and Bihar is essential for the entire milling business, as grain from Punjab and Haryana is not readily available.