-PTI Move expected to boost domestic supply, check prices The government today approved sale of 10 million tonne of wheat from FCI stock in the open market in order to boost domestic supply and check prices. A decision in this regard was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Narendra Modi. "The CCEA has cleared sale of about 10 million tonne of wheat via the...
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How Govt can fight food inflation -Tejinder Narang
-The Hindu Business Line Plus ça change, plus c'est la même chose (The more things change the more they remain the same ): A French proverb. In its earnest to tackle rising food inflation the new Government has taken a welcome initiative to delist fruits/ vegetables including onions (FVO) from the Agricultural Produce Marketing Committee (APMC) Act, while all other measures are as usual - short term of political expediency, repeated several...
More »CCEA okays sale of 10.5 mn tonne FCI foodgrains in open market
-PTI NEW DELHI: The Cabinet Committee on Economic Affairs (CCEA) today cleared the Food Ministry's proposal to offload 10.5 million tonnes of FCI foodgrains in the open market to control retail prices. However, the proposal on allowing extra 2 million tonnes of wheat export through public sector trading agencies was not listed on the CCEA agenda for discussion. "The CCEA has approved allocation of 10 million tonnes of wheat and 0.5 million tonnes...
More »Government's wheat buying may touch 28-30 million tonne this season-Madhvi Sally
-The Economic Times NEW DELHI: Wheat procurement in the rabi marketing season 2013-14 is likely to touch 28-30 million tonne. When procurement began in April, the government had estimated to buy 44.06 million tonne wheat this year. "Wheat procurement this season will fall to 28-30 million tonne," said Union Food Minister KV Thomas. He added that since the government was strict with the OMSS price and didn't accept the industry...
More »Govt set to review buffer stock norms -Madhvi Sally
-The Economic Times The government is reviewing the norms for keeping buffer stocks of wheat and rice required at a particular time of the year to feed the public distribution system and welfare schemes. The demand for wheat and rice distributed through welfare schemes is expected to rise with the implementation of the food security law. "The government is looking at the issue and we are discussing it with different departments," KV Thomas,...
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