Flour mills urge govt to release wheat stocks as prices hit 9 months peak

Quick Summary:

After five consecutive record harvests, a sharp rise in temperatures shrivelled the wheat crop in 2022 and 2023, pushing up prices of the staple and prompting the world's No.2 producer to ban exports.

Another flour miller from the southern state of Karnataka said the government should no longer drag its feet over freeing up some stocks from its inventories.

Wheat stocks in India's government warehouses on Aug.1 were 26.8 million tons, down 4.4% from a year ago.

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Category: BusinessFinance

Markets: IndiaAustralia

Topics: Wheat prices Commodities Supplies Flour millers Wheat Biscuit makers

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-21 @ 16:50:56 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 554 words

Reading Time: 4 minutes read

Sentences: 20 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 22194070

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