July 24, 2014 / 5:37 AM / 3 years ago

India to free up extra 10 million tonne wheat in open market

NEW DELHI (Reuters) - India will free up another 10 million tonnes of wheat in the open market, Food Minister Ram Vilas Paswan said on Thursday after a cabinet meeting, as part of efforts to keep a lid on food prices.

The government buys rice and wheat from local farmers to build reserves and to sell subsidised food to the poor.

India’s retail food inflation eased to 7.97 percent in June from 9.56 percent in May after the government took steps to check hoardings and curb exports of onions and potatoes.

Reporting by Nigam Prusty; writing by Mayank Bhardwaj; editing by Malini Menon

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