Nuhey News

We talk about the MARKET

Government intervenes to release 2 million tonnes of wheat from FCI inventories and slow the rise in wheat and atta prices

In a bid to control the rising prices of wheat and atta (wheat flour), the Indian government has decided to release two million tonnes of wheat from the stocks held by the Food Corporation of India (FCI). The decision was taken after the recent hike in wheat prices due to a surge in demand.

The two million tonnes of wheat is expected to be released over a period of two months, starting from the first of June. The wheat will be provided to states across the country at a price of Rs.25 per kg. The states have been asked to ensure that the wheat reaches the consumers at an affordable price.

It is expected that this move will help in reducing the prices of wheat and atta as the additional wheat available in the market will increase the supply and decrease the prices. The government has also asked the states to take steps to reduce the transportation and storage costs of the wheat.

The government has also asked the FCI to provide an additional one million tonnes of wheat to the states in the coming months to further increase the availability of wheat.