Ban on export of wheat extended; cap on stock
The Union Government, apparently to keep the prices under control before the General Election next year, has decided to extend the ban on export of wheat till July next year and impose a stock limit to prevent hoarding, a senior official said. There have been reports of hoarding by private players, especially in UP. The Food Corporation of India (FCI) had fallen short of the procurement target in 2022 on account of a heatwave that affected productivity and quality. Also, farmers sold the produce to private players above the minimum support price (MSP) because of global shortage caused by the Ukraine conflict.
“The export ban is likely to last till the General Election. We have already procured enough stocks this season. We will regularly release wheat through the Open Market Sales Scheme,” the official said.
According to the FCI, about 240 lakh tonnes of wheat has already been procured — up 40 per cent than the procurement last season.
Source Link: https://agriinsite.com/ban-on-export-of-wheat-extended-cap-on-stock/
