Centre releases Rs 17,994.21-cr for Punjab's wheat purchase
PTI In a relief to Punjab government, the Centre today released Rs 17,994.21 crore towards Cash Credit Limit (CCL) for Rabi procurement subject to certain conditions laid down by the Reserve Bank of India. The Union Finance Ministry and the RBI, in separate letters to the Principal Secretary (Finance), government of Punjab, said the central government had decided to release the CCL immediately in view of the urgent need to procure wheat following early arrival of the grain in the mandis and the assurance of the State Bank of India (SBI), said an official release.The CCL has been released for the Rabi season, up to the end of April, on the condition that the state government would regularize, at the earliest, the ...
Wheat harvest season expected to bring down imports
The Dollar Business Bureau India has of late emerged as one of the biggest net importer of wheat, buying over five million tonnes since mid-2016, the country’s biggest annual purchase in over a decade. Last year, the government had focused on importing wheat in a colossal quantity in order to meet the rising demand of the commodity in the domestic market. India’s total wheat production registered a shortfall in the last two years due to unfavourable weather conditions. This year’s production, however, seems to be meeting the domestic expectations, as the government is also looking to cut down on the inbound shipments of the commodity as the harvest season approaches in April. The government will contemplate over the future purchases of wheat, depending upon the ...
Rains take shine off wheat
The Dollar Business Bureau Next time you munch your biscuits while having tea, there is more than a good chance that at least a part of your evening snack has come from Australia. For, the Indian flour millers and the ones in southern states in particular, have reportedly contracted to import five lakh tonnes of premium Aussie wheat. Any reason? The unseasonal rains have impacted the quality of the grain at home, leading to lustre loss and prompting the millers to depend on the premium variety of imported wheat. “We are struggling to get quality wheat this year. In the wake of untimely rains in February and March, the availability of the premium wheat has become an issue for the millers. ...
