(MENAFN- Trend News Agency)
Hours after imposing a ban on wheat exports, top officials said
the decision to“restrict” had been taken to stop unregulated trade
to curb inflation and hoarding and ensure supplies to poor and
vulnerable nations, Trend reports citing The Tribune .
Production has“not gone down dramatically” they insisted,
adding that trade is being regulated to reign in the rising
domestic prices. There was a sufficient quantity of stocks. The
price rise is imported (due to international prices). If global
prices change, the ban can be reviewed.
“No order is in perpetuity. If the figures change, if global
prices change, if the food and agriculture departments are
comfortable, it will be reviewed,” commerce secretary BVR
Subrahmanyam said. However, some revisions have been made in
allocation grains to beneficiaries under NFSA from June 2022 to
The“control order” serves three main purposes,“maintains the
food security for the country, helps others who are in distress and
maintains India's reliability as a supplier,” Subrahmanyam said,
asserting that all export orders where the letter of credit has
been issued would be fulfilled.
“Exports through government channels will help take care of
genuine needs of our neighbours and food deficit countries and also
anchor inflationary expectations. Apart from the food security of
India, the Government is committed to ensure food security of
neighbours and vulnerable countries. Of the export of 7 MT last
year, almost half of it went to Bangladesh alone,” he said.
Food Secretary Sudhanshu Pandey said the government has boosted
the availability of wheat by reallocation to states.“This year,
our opening stock of wheat was 190 LMT, which was little less than
last year's opening balance of 273 LMT. Last year's procurement was
433 LMT whereas in Rabi season this year, the estimated procurement
is about 440 LMT. The extra procurement so far is around 180
“Adding up the stocks against the stock of 706 LMT of last year,
this year stocks will be 375 LMT. That is why after consulting with
states, we have re-allocated some quantities by changing the ratios
of wheat and rice,” he said. For example, states getting wheat and
rice in the ratio 60:40 will get it in the ratio of 40:60.
Similarly, the ratio of 75:25 has been made 60:40.
Agriculture Secretary Manoj Ahuja said heat wave caused damage
to wheat crops, especially in the northwest but the difference
compared to last year is“marginal”.“Last year the production
figures of wheat were 109 LMT. Our estimates show 105-106 LMT of
wheat this year,” he added.
India is not the only country to impose restrictions on export,
officials said. During March-April, seven countries, including
Russia, Argentina, Kazakhstan, Hungary, Bulgaria, Turkey,
Philippines, also imposed various kinds of restrictions, including
a ban on wheat export.
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