India releases domestic wheat stocks to stabilize prices
Food Corporation of India (FCI) in a bid to reduce domestic wheat prices is planning to auction it under the domestic sales scheme.
The average price of wheat in the retail market is now between Rs 3,000 and Rs 4,000. However, the minimum support price of wheat is Rs 2,425.
To stabilize prices, the Food Corporation of India will sell 2.5 million tonnes of wheat to flour millers and processors through an online auction.
Wheat production in the country has stagnated over the last 2 years due to weather conditions and geopolitical tensions between the two largest wheat producers and exporters – rf and Ukraine.
Further development of the grain and oilseed markets of Ukraine and the Black Sea region will be in the spotlight of the BLACK SEA GRAIN. KYIV conference, taking place on April 22–23 in Kyiv. The event will focus on strategic directions for the agricultural sector through 2030, including investments, energy independence, processing, and exports of high-value products.
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