Wheat stocks in India’s government warehouses will fall by about 13% from current levels early next month but will be sufficient for the country’s welfare schemes, the consumer affairs and food ministry said on Thursday.
Wheat stocks in government warehouses for December fell to the lowest in six years as rising demand and falling inventories pushed prices to a record high. India, the world’s second largest wheat producer, banned its exports in May.
According to a government statement, around 15.9 million tonnes of wheat will be available till January 1, which is more than the buffer requirement of 13.8 million. About 18.2 million tonnes is available so far.