With wheat prices at an all-time high, the government may be considering selling wheat in the open market in an effort to lower costs. Wheat prices in India have risen this year as a result of a rapid spike in temperatures, which has reduced crop yields and productivity.
Following a record high of Rs. 2,915 per quintal in Delhi markets, the Central government would sell wheat in the open market through the Food Corporation of India (FCI) to bring prices down. The government purchases rice and wheat from farmers at predetermined rates in order to run the world's largest food welfare programme, which entitles around 800 million people to 5 kg of rice and wheat per month at 2 and 3 rupees per kg, respectively.
The government is confident that it will release 2 to 3 million tonnes of wheat in the open market. According to reports, the FCI might offer wheat to small dealers at Rs. 2,250 per quintal.