India lifts domestic wheat purchase price by 2.6% – farm minister
India has raised the price it will pay to buy new-season wheat from local farmers by 2.6% to 1,975 rupees per 100 kg, Farm Minister Narendra Singh Tomar said, to placate farmers and encourage them to step up planting that begins next month.
India, the world’s second-biggest wheat consumer, sets a price each year to protect domestic farmers from distress sales and to cover emergency needs. It uses the grain to sell food to the poor at low prices.
Source: Reuters (Reporting by Mayank Bhardwaj and Rajendra Jadhav; Editing by Alex Richardson)