Govt curbs wheat purchase by firms to check hoarding

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New Delhi, Mar 7: The government imposed conditions on corporate houses for purchasing wheat from farmers in the ensuing marketing season beginning April, 2008 by invoking the provisions of section 3 of Essential Commodities Act, 1955 (10 of 1955).

On Friday the government issued the Wheat (Stock declaration by Companies or Firms or Individuals) Order 2008, which requires submission of return by a company or firm or individual who purchases wheat exceeding 10,000 tonne (total purchases made throughout the country) during the Rabi Marketing Season 2008-09 (April-March). The submission of return should be made before the secretary in the department of food of the state from where maximum quantity has been purchased. A return in the Form at such interval as may be specified by the central government, an official press release said.

In case the purchase of wheat exceeds 25,000 tonne (total purchases made throughout the country), the return in the Form at such intervals specified therein should be furnished to the under secretary (policy-III) in the central government's department of food. Intimations through fax or email would also be accepted. Wheat prices have more than doubled in the past year after a drought hurt crops in Canada and Australia. The state governments with which such returns are filed by any company or firm or individual in Form declaring purchase of wheat in excess of 10,000 tonne should submit a consolidated monthly report to the under secretary (policy-III) in the central government's department of food and public distribution by the 10th of every month.