India to not allow wheat export even if govt procurement exceeds target
India will maintain its wheat export ban despite strong procurement exceeding the 31.3 million-tonne target. A top official said the priority is to rebuild buffer stocks and ensure stable ration shop supplies. Wheat exports, banned since May 2022 to curb inflation, will continue only on humanitarian or diplomatic grounds, even as production and procurement improve this year.
India will not allow wheat export even if the government procurement exceeds the target of 31.3 million tonnes (mt) as the priority is to bolster stocks and restore normal allocation through ration shops, said a top official.
The Centre had banned wheat exports in May 2022 to control prices, after a slight fall in the domestic production and a sharp decline in the official procurement for the central pool. But it continued exporting on humanitarian ground and for diplomatic reasons to friendly countries on government-to-government requests, though in limited quantities.
“We know the wheat production is better this year as is procurement. But, our first priority still is to replenish buffer stocks to a comfortable level so that we are able to sell at least 6-7 million tonnes , if required, in open market,” said a top government official.
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Source : The Hindu Businessline
