India to offer extra wheat to biscuit firms, flour mills
NEW DELHI (Reuters) - India will offer an extra 6.5 million tonnes of wheat to commercial biscuit makers and flour millers at cheap prices as it seeks to trim bulging stocks and keep a lid on local prices, the government said on Saturday.
India, the world's second-biggest rice and wheat producer, has been struggling to store huge stockpiles of the staples after bumper harvests since 2007. Some 6 million tonnes are still under tarpaulin at risk of decay.
To avoid further damage, the government freed up 3 million tonnes of wheat in June for sale to bulk consumers such as biscuit makers and flour mills at $210 per tonne. The following month, it allowed 2 million tonnes of wheat exports.
The government also approved allocating 500,000 tonnes each of wheat and rice to sell to states.
(Reporting by Mayank Bharadwaj; Editing by Toby Chopra)
- Tweet this
- Share this
- Digg this
- UPDATE 3-Avalanche kills at least 12 guides in deadliest incident on Mount Everest
- UPDATE 10-Vice-principal of South Korea school in ferry disaster commits suicide
- Mediterranean diet may slow diabetes progression
- UPDATE 5-U.S. further delays final decision on Keystone XL pipeline
- India passes halfway mark in election with BJP gaining strength
Nitin Gadkari, former president of the Bharatiya Janata Party and a member of the BJP’s manifesto committee, speaks to Reuters. Here are the edited excerpts. Full Article
Turning smog into jewels - a Dutch designer's solution to Beijing's pollution. Video