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
- Disarray in Congress after poll drubbing
- China-Brazil satellite launch fails, likely fell back to Earth
- Reliance Industries, Bharti sign telecom infrastructure deal
- UPDATE 3-U.S. regulators seek to curb Wall St trades with Volcker rule
- Obama and Castro shake hands, Zuma humiliated at Mandela memorial
Disarray within the Congress burst into the open on Tuesday after its stunning defeat in state elections, with a senior figure saying the party would lose a general election and needed time in opposition to reinvent itself. Article