Indian Wheat Stock Boost

The Indian government are rumoured to be preparing to offload one million tonnes of wheat in the open market.

The wheat will come from its buffer stock to give relief to consumers battling with rising prices of food grains.

About one million tonnes of wheat are likely to be offered to states across the country, which will then be authorised to sell the grain in the open market either through co-operatives or via tender, a senior government official said.

The government is expected to make an official announcement in the next few days as the Empowered Group of Ministers (EGoM) has already received in-principle authorisation.

The Indian government could be preparing to offload one million tonnes of wheat in the open market from its buffer stock to give relief to consumers battling with rising prices of food grains.

About one million tonnes of wheat are likely to be offered to states across the country, which will then be authorised to sell the grain in the open market either through co-operatives or via tender, a senior government official said.

The government is expected to make an official announcement in the next few days as the Empowered Group of Ministers (EGoM) has already received in-principle authorisation.