July 28, 2014

India to release 10 million tonnes more wheat into market


India will release another 10 million tonnes of wheat in the open market, according to the country's food minister, Ram Vilas Paswan.

The move is intended to maintain control over food prices.

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

India's retail food inflation eased to 7.97% in June 2014 from 9.56% in May 2014 after the government took steps to deal with hoardings and curb exports of onions and potatoes.

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