AreaIndia

Commodity GroupGrains

CommodityWheat

Date23/08/2023

Policy CategoryConsumption and marketing

Policy InstrumentGovernment market intervention

DescriptionAnnounced that it would sell 5 million tonnes of wheat and 2.5 million tonnes of rice with to the aim of curbing domestic price inflation. The commodities will be sold on open markets through electronic auctions, and sales will be phased in over time. The government also indicated that it would reduce the reserve price for the sales by INR 200 per quintal (USD 24 per tonne), resulting in an adjusted price of INR 2 900 per quintal (USD 350 per tonne).