Market Pulse
Sensex losers, gainers this week
It was a tough week for Indian shares as the BSE Sensex fell nearly 3 percent and the Nifty lost 3.3 percent as U.S. Fed chief Bernanke’s suggestion that stimulus measures may be scaled back at one of their next few meetings dented sentiment. Here's a look at the top Sensex losers and gainers. Full Article
REUTERS SHOWCASE
Revenge of Markets
For months, markets have been dancing to central bankers' tune, but that may now be changing, writes James Saft. Full Article
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
India to offer extra wheat to biscuit firms, flour mills
Track Markets: BSE Sectoral Indices
Track and analyse performance of all BSE sectoral indices and other global indices on a single page. Full Coverage
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
NEW DELHI |
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
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters