Wheat prices to remain high ahead of festive season

A worker sifts wheat at a grain market in the northern Indian city of Chandigarh. PHOTO | REUTERS

Consumers will continue paying more on wheat products for the remainder of the year as bakers say the cost will not drop this October as earlier projected, signalling a costly Christmas.

Even though the cost of wheat at the international market has dropped to a low of $390 a tonne, processors say the supplies that they are getting at the market were purchased in April at higher rates of $540 a tonne.

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