Govt to buy 1 lakh tonnes of wheat from Russia

The government is planning to procure 1 lakh tonnes of wheat from Russia in a bid to increase the food stock.

Later today, the food ministry is expected to place the proposal for the procurement on a government-to-government level deal with the Russian Federation before the Cabinet Committee on Public Purchase for approval, sources said.

Last week, the ministry had a meeting with Russia’s Foreign Economic Corporation about wheat imports.

As per the meeting, a final agreement was reached between the two sides on the wheat imports at the rate of $352.98 per tonne, said an official at the food ministry.

The country’s total demand for wheat has been estimated at more than 4 lakh tonnes until June 30, 2021, and the current reserve is 1.26 lakh tonnes.

The government has turned to wheat imports from the Black Sea region to meet its growing domestic demand and considering the stock situation during the Covid-19 pandemic.