India plans to sell wheat from state reserves to control local prices and increase supplies.
India plans to sell wheat from state reserves to flour millers and biscuit makers next month, as it aims to control local prices by increasing supplies. The government has authorized the Food Corporation of India (FCI) to start offering wheat from its inventories at 23,250 rupees ($279) per ton, about 12% lower than current open market prices. FCI has yet to determine the quantity of wheat it will sell.
July 10, 2024
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