News

The Government of India plans to purchase up to 34 million tons of new crop wheat into state reserves

Wheat
India
Published Mar 3, 2023

Tridge summary

The Indian government announced its intention to buy about 34 million tons of new crop wheat into state reserves to increase domestic stocks after a reduction in grain production last year due to drought, Reuters reports.

Original content

It is noted that state purchases of wheat in 2022 amounted to only 18.8 million tons, which is 53% lower than the level a year earlier. Low volumes stimulated a sharp increase in domestic prices, forcing FCI (Food Corporation of India) to supply an additional 5 million tons of ...
Source: Zol

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