January 18, 2012

India's Punjab government fixes wheat stock prices

Under a notification, the Punjab government of India has fixed the price of stocked wheat of year 2009-10 at INR950 (US$18.79) per 40kg for the month of January.

According to Punjab Food Secretary Irfan Ali, in year 2011 the Food department had 764,395 tonnes of wheat in stock of year 2009-10 while on December 31, 2011 it was 551,992 tonnes.

He said that 270,000 tonnes of wheat had been sold in fifteen days and now the Food department had 279,914 tonnes of wheat in stock of year 2009-10.

He further said that this scheme would continue till January 30 to utilise all wheat available in stock.

He said that timely utilisation of stocked wheat was necessary for creating proper space for the coming wheat.