The Indian government plans to sell 3 million tons of wheat from the state reserve to traders at a 6% discount The Government of India announced the sale of 3 million tons of wheat from the state reserves in addition to the previously sold 2 million tons. Since then, New Delhi wheat prices have fallen to Rs 28,290 ($347.11) a tonne, 13% below their all-time high hit last week due to low inventories. S&P Global writes about it.
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The Indian government plans to sell 3 million tons of wheat from the state reserve to traders at a 6% discount The Government of India announced the sale of 3 million tons of wheat from state reserves in addition to the previously sold 2 million tons. Since then, wheat prices in New Delhi have fallen to Rs 28,290 ($347.11) a tonne, 13% below their all-time high hit last week due to low inventories. S&P Global writes about it. According to the Indian Ministry of Food, the sale of grain under this scheme will be possible if processed into atta (whole grain wheat flour) and then sold at a maximum retail price of 29.5 rupees per kilogram. As specified, the wheat itself will be offered to traders (including both millers and wholesalers) at electronic auctions. The maximum weight for sale will be 3 thousand tons per buyer. It will also be sold to other government agencies without auctions at a reduced price of 23,500 rupees ($288.52) per ton. As explained in the message, this measure ...
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