Reuters exclusively reported that India has asked global and domestic trade houses to avoid buying new-season wheat from local farmers to help the government-backed Food Corporation of India (FCI) procure large quantities to shore up its depleting reserves.
Government
India asks traders to avoid buying new-season wheat to shore up state stocks
02 April 2024, 2:34 am 1 minute
Market Impact
India, the world’s biggest wheat consumer and grower after China, banned exports in 2022 and is keen to bolster stocks and tame prices that surged after dry weather hurt output in 2022 and 2023.
Article Tags
Topics of Interest: Government
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Asia
Countries: India
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
