New Delhi: The government has raised the price it will pay to buy new-season wheat from local farmers to Rs 1,450 per 100 kg, up 3.57 per cent, increasing the incentive to plant the crop even though supply has exceeded demand for eight years.
India, also the world's second-biggest wheat consumer, sets a price each year at which it buys grains from domestic farmers to sell ultra-cheap food to the poor, to protect growers from distress sale and to cover emergency needs.
Copyright @ Thomson Reuters 2014
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