June 26, 2010 11:53 AM

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Centre to release 5 mt wheat in open mkts

The Centre will release 5 million tonne of wheat for open market sale to enhance its availability and maintain a check on prices. The wheat will be available in the coming month at a revised price of around Rs 12, 60 paisa a kilogram. The proposal was approved by the Empowered Group of Ministers (EGoM) on Food chaired by the Finance Minister Mr. Pranab Mukherjee on Friday. <br/>Wheat being released for sale under open markets scheme will be in addition to 3 million tonne released through the State Governments. The EGOM also decided to retain the zero duty on wheat and sugar imports in view of the food inflation. The EGOM however, deferred a decision on reducing levy on sugar mil owners from 20 to 16 per cent. Our correspondent reports that the EGOM decided to discuss the National Food Security Bill after National Advisory Council takes a view on it. The Council is scheduled to hold its second meeting in the first week of July. <br/>

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