August 19, 2009
India government approves sales of three million tonnes wheat in local market
An Indian ministerial panel has approved the sale of 3 million tonnes of wheat in the local market from government stocks, a senior farm ministry official said Tuesday (August 18).
The panel also approved sale of 2.5 million tonnes of rice from government reserves in the open market, the official, who did not want to be identified, said.
The official said the date for sale of the grains is yet to be decided.
Weak monsoon rains have pushed up food prices on concerns about a looming drought. India's annual monsoon rains are crucial to summer crops, as 60 percent of the farmlands are rain-fed.
