Last month, the government had curbed exports of wheat flour and before that it had banned wheat exports on May 13
Liquidating some stocks from the Central pool for private traders and a curb on excess holding could be considered
The government on Friday said wheat stocks in FCI godowns is expected to be 134 lakh tonnes at the start of next fiscal, 80 per cent more than the buffer norm.
The wheat stocks in the Central pool have dropped close to the minimum required levels because of lower procurements. What does this mean for the grain's prices and production?
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In the last two weeks, traders have signed contracts to export 1 million tonnes of rice for shipments from June through September
Exceptions were allowed for shipments backed by letters of credit that had already been issued and those to countries that requested supplies to meet their food security needs
The government data highlighted that India's expected production of wheat for 2022-23 remains at near 105 million metric tonnes (MMT)
Export demand from India has seen a surge this year due to the shortage of wheat in the world markets because of the Russia-Ukraine war
Farmers have been holding on to their produce as the price of wheat in the open market recouped some of the losses it suffered in the aftermath of the ban
Here are the top Business Standard headlines on Friday
India is the only major supplier of wheat at this time of year, and its exports of the grain have surged since Russia invaded Ukraine in late February
India has a wheat stockpile estimated at about 100 million tonnes, which exceeds the requirements for a safety net
Experts feel this could keep prices of major farm commodities and products dependent on them, such as poultry and meat, at an elevated level for quite some time
The country's wheat exports crossed 70 lakh tonnes in 2021-22 as against 21.55 lakh tonnes in 2020-21, according to the official data
India can become a reliable grain exporter
India is looking forward to starting wheat export to several new countries beyond its Asian/South Asian neighbours.
India is rolling out ambitious measures over the coming weeks to try to establish the country as a dominant exporter of high-quality wheat as importers scramble for supplies after Ukraine invasion