June 24, 2008
India may sell Food Corp's wheat stocks in open market
India may sell wheat procured by the Food Corp. of India in the coming months in a bid to curb accelerating inflation, the Hindu Business Line reported Tuesday (June 23, 2008) citing the country's Farm Minister Sharad Pawar.
The sale in the open market would be considered only after the needs of the public distribution system are met, the report said.
India's state run procurement agencies have purchased 22.2 million tonnes of wheat during the current marketing year that started April 1, double than what was procured last year.
