India to offer extra wheat to biscuit firms, flour mills

NEW DELHI Sat Nov 10, 2012 4:42pm IST

A dumper unloads wheat as a crane loads onto a cargo ship at the Mundra port in Gujarat September 24, 2012. REUTERS/Amit Dave/Files

A dumper unloads wheat as a crane loads onto a cargo ship at the Mundra port in Gujarat September 24, 2012.

Credit: Reuters/Amit Dave/Files

Related Topics

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Quarterly Results

Quarterly Results

HDFC Bank net profit up 20 percent, lags estimates.  Full Article 

China Economy

China Economy

China's growth slowest since global crisis, annual target at risk  Full Article 

Coal Reforms

Coal Reforms

Factbox - India pushes ahead with coal reforms  Full Article 

Apple Result

Apple Result

Apple's iPhone sales beat Street but iPad volumes slide  Full Article 

Airport Accident

Airport Accident

Total CEO de Margerie killed in Moscow plane accident - airport spokeswoman.  Full Article 

Nadella's Paycheck

Nadella's Paycheck

New Microsoft CEO Nadella's pay tops $80 mln with big stock awards.  Full Article 

Deregulation Impact

Deregulation Impact

Private fuel retailers to dip toe, not dive back, into India  Full Article 

JLR China

JLR China

JLR sees 20 percent growth in China sales this year - exec  Full Article 

An RBI First

An RBI First

RBI releases minutes of financial stability council's Aug meet  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage