India raises 2018 local wheat purchase price by 6.8%.

India will raise the price at which the government will buy new-season wheat from local farmers in 2018 by 110 rupees ($1.69), or 6.8 percent, the minister of agriculture said on Tuesday, to boost local wheat output. The revised purchase price of 1,735 rupees ($26.66) per 100 kg compares with 1,625 rupees a year ago. India buys the grain from local farmers at state-set prices to build stocks to run a major food welfare programme which covers about 75% of its 1.3 billion people.