India to offer 3 million tonnes wheat to bulk consumers to cool prices: Government source

Wheat

India will provide 3 million tonnes of wheat to bulk consumers such as flour millers, as part of efforts to bring down prices, which jumped to a record high on Wednesday, a government official told Reuters.

The allocation is more than traders' expectations of around 2 million tonnes. The market was waiting for government permission for nearly two months as supplies dwindled at the tail end of the wheat marketing year even as demand surged.