Wheat in open market
ASIANAGE
New Delhi, Aug. 21: The government on Thursday decided to sell its surplus wheat and rice stocks in the open market to calm prices of these food grains, which have been feeding inflation.
The Cabinet Committee on Economic Affairs (CCEA) gave its approval for the open market sale scheme for wheat and rice, but asked the food ministry to decide on the quantity to be sold and timing on the basis of recommendations of the Committee of Secretaries.
Officials indicated that the government may sell about three to four million tonnes of wheat in the open market during the ensuing festival season, after meeting requirements of the public distribution system and strategic food reserves.
"The release of wheat and rice would help in stabilising open market price of food grains," an official statement said. - PTI
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