NEWS
Additional Wheat from India
Thu Dec 27, 2012 11:19 AM CST

NEW DELHI (Dow Jones) -- India's federal cabinet Wednesday allowed exports of an additional 2.5 million metric tons of wheat from overflowing government stocks, Finance Minister P. Chidambaram told reporters.

The quantity would be over and above 2 million tons of wheat allowed earlier this year.

Separately, the cabinet increased the assured price of wheat paid to farmers to 1,350 rupees per 100 kilograms from 1,285 rupees per 100 kilograms, Chidambaram said.

India's decision to allow more wheat exports would likely help to marginally trim the government's huge pile of foodgrain stocks -- currently at three times its requirement -- ...

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