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Economic Times: India intends to buy nine million tons of Russian wheat

Published Aug 4, 2023

Tridge summary

Wholesale prices for bread in India have increased by 6.2% over the past year due to low production levels, declining stocks, and growing demand. The government has imposed restrictions on the storage and sale of grain to traders, raising concerns about domestic production. There is discussion of importing wheat, but it is still in the early stages, and the harvest is estimated to be lower than initially forecasted.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The publication notes that wholesale prices for bread in the country have increased over the past year by 6.2 percent - up to 2.6 thousand rupees per centner (31.9 dollars) from 2.4 thousand rupees a year ago. The reasons for this are also named: a combination of low production levels, declining stocks, as well as growing demand. Added to this is the introduction by the government of restrictions on the storage and sale of grain to traders amid fears of a reduction in domestic production. According to the source, "the possibility of imports is being discussed at the highest level," but is at an early stage. The publication also reports that earlier the government forecast Indian wheat production at a record level of 112.7 million tons, but traders and millers estimated the harvest at only ...
Source: RG
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