India Could Sell Wheat into Open Market

India has sufficient stocks of rice and wheat and the government will sell wheat in the open market if needed to control prices, a senior government official said Monday. “We have enough stocks of rice and wheat and there’s nothing to worry,” Sudhanshu Pandey told a press conference. “We’ll intervene if needed,” he said, replying to a query on whether the government would sell food stocks in the open market to keep a lid on local prices.

Pandey said prices of staple grains have risen only at a moderate pace, and restrictions on exports initiated by the government have helped keep a lid on grain prices.