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

The allocation is more than traders' expectations of around 2 million tonnes.

January 25, 2023 / 05:12 PM IST
Wheat

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.