India to sell wheat from state stocks to flour millers, biscuit makers

Published 2024년 7월 10일

Tridge summary

India plans to sell wheat from its state reserves to bulk consumers like flour millers and biscuit makers from next month at a price nearly 12% lower than the prevailing open market price, in an effort to increase supplies and control local prices. The Food Corporation of India (FCI) will offer the wheat at 23,250 rupees a ton. Last year, FCI sold over 10 million metric tons of wheat to private players, marking a record sale from state reserves. This comes as India is considering wheat imports after a six-year break to replenish depleted reserves and reduce rising prices, and is also considering reducing the import tax on wheat.

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Original content

India plans to sell wheat from its state reserves to bulk consumers such as flour millers and biscuit makers from next month, according to a government order seen by Reuters, as it seeks to keep a lid on local prices by boosting supplies. #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} The government has allowed the state-run Food Corporation of India (FCI) to start offering ...

Source: Economic times