Business | Markets
India to raise target for local buying
India is likely to exceed the target of buying 27 million tonnes of rice in the marketing year to September 2008, the chairman and managing director of Food Corporation of India, Alok Sinha, told reporters.
- Reuters
- Published: 00:05 May 3, 2008
New Delhi: India is likely to exceed the target of buying 27 million tonnes of rice in the marketing year to September 2008, the chairman and managing director of Food Corporation of India, Alok Sinha, told reporters.
He said government agencies had already bought 23.2 million tonnes of rice so far in the marketing year, which is 1.8 million tonnes more than in the same period a year ago, he said.
"We have a target of 27 million tonnes and we are confident of procuring more than that," he said.
Indian government agencies have bought 15.4 million tonnes of wheat so far this year, Alok Sinha said on Friday.
He said procurement by official agencies was likely to rise to 17.5 million tonnes this year.
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