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Govt cuts wheat MEP to $260 a tonne

Govt cuts wheat MEP to $260 a tonne
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Govt cuts wheat MEP to $260 a tonne, The government on Wednesday reduced the minimum export price of wheat by $40 per tonne to $260 per tonne as it found no buyer at the higher floor price of $300.

The government on Wednesday reduced the minimum export price of wheat by $40 per tonne to $260 per tonne as it found no buyer at the higher floor price of $300.

The Food Ministry had moved a Cabinet note proposing a reduction to make exports viable and clear surplus stock.
“Wheat export price of $260 per tonne has been approved by the Cabinet Committee on Economic Affairs (CCEA).
We hope exports will be viable now and shipments will take place,” Food Minister K V Thomas said.
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