Govt to release 1 million tonnes of wheat to ease price pressure

The government will release one million tonnes of wheat to cool down its prices which have seen a surge recently. 

This additional supply will come from strategic reserves of  wheat, food minister Ram Vilas Paswan said today. 

According to norms, strategic reserves should have 3 million tonnes of wheat and two million tonnes of rice as on April one of a finanical year. 

The government will change the norms to have three million tonnes of rice and two million tonnes of wheat. 

Wheat prices surged by Rs 50 per quintal at the wholesale grains market on Wednesday due to increased offtake by flour mills against tight stocks on fall in arrivals from producing belts.