The Hindu : National : Centre may go in for open market sale of wheat

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Tuesday, Jun 24, 2008
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Centre may go in for open market sale of wheat

Gargi Parsai

NEW DELHI: Buoyed by the production of 78 million tonnes of wheat this rabi and a procurement of 222 lakh tonnes for the Public Distribution System, the government may intervene in the market with open sale of wheat to contain prices.

Union Agriculture Minister Sharad Pawar said here that the government had set aside about three million tonnes of wheat for the open market sale in those States where the wheat prices continue to remain high. The pricemade available thus, to augment supplies, would be fixed at lower than the market rate, the Minister said.

On the sidelines of the 66th General Council meeting of the National Cooperative Development Corporation here, Mr. Pawar said the raise of Rs.105 per quintal in the minimum support price of paddy was “big” and unlike apprehensions, kharif sowing had been “satisfactory.” Depending upon how the sowing progresses, the government would take a decision on open market sale of wheat.

He said the government would be able to spare three lakh tonnes of wheat for open sale after taking into account the requirement of PDS and welfare schemes, the buffer stocks as well the creation of a strategic reserve of three million tonnes of wheat.

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