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India to offload wheat in the open market

Posted on 29 August 2008

From World-grain.com: With the inflation rate nearing 12.6%, India has decided to offload six million tons of wheat from the government stocks in the open market to enhance availability and contain prices, the U.S. Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) said Aug. 22.

The sale would be done after the country meets the requirements of the targeted public distribution system. In April, India set aside four million tons for buffer stocks, and three million tons for reserve stocks, which was made possible through a record procurement this year at 22.5 million tons vs. 11.1 million tons last year….. Full Article: Source


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