Wheat reserves at state warehouses in India have reached a 16-year low: what measures is the government taking?

Based on the latest data, wheat stocks in India's government warehouses by the beginning of April reached the lowest level in the past 16 years, amounting to 7.5 million tons, compared to 8.35 million tons last year. It is important to note that over the past ten years, the average stock amount has been 16.7 million tons. However, despite the grain shortage, the Indian government refuses to reduce or abolish the 40% import tax, as well as to purchase grain through private agreements with exporters, including Russia. Instead, the plan is to sell nationally produced wheat to wholesale consumers and processors in order to control the rise of domestic prices that exceed the government-set minimum procurement price. Furthermore, the government plans to ensure a minimum wheat stock of at least 10 million tons in the future. Specifically, by 2024, it is planned to procure between 30 to 32 million tons of grain from local farmers to maintain stocks above the buffer level for the next season.