India has raised the price it will pay to buy new-season wheat from local farmers by 2% to 2,015 rupees per 100 kg, the government said on Wednesday, in a move to placate protesting farmers and encourage them to step up planting.
India, the world’s second-biggest wheat consumer, sets a price each year to protect domestic farmers from distress sales and to cover emergency needs. It uses the grain to sell food to the poor at low prices.
Source: Reuters (Reporting by Rajendra Jadhav; Editing by Andrew Heavens)