Delhi: No wheat export ban
INDIA has no plans to curb wheat exports – needed to help plug the gap left by the Ukraine war – despite the current heatwave hitting output, the government said.
The world’s number two wheat producer has major buffer stocks and has said it is ready to increase exports to countries hit by falling supplies from Ukraine and Russia.
But its hottest March on record and a recent heatwave have sparked speculation that India might instead prioritise domestic supplies in the country of 1.4 billion people.
Sudhanshu Pandey, India’s food secretary, was quoted as saying last Wednesday (4) that wheat production was expected to fall at least five per cent this year from 110 million tonnes in 2021. But he added: “I don’t see any controls on exports.”
Last month, the commerce and industry minister, Piyush Goyal, said India would export 10 million tonnes of wheat, up from seven million, this financial year – beginning in April.
“Our farmers have ensured that not just India but the whole world is taken care of,” Goyal told reporters.
Russia and Ukraine account for more than a quarter of international wheat supplies, and global prices have soared to record highs in recent weeks.
Rising prices, also caused by fertiliser shortages and poor weather, have fuelled inflation globally.
Indian traders have already contracted to export four million tonnes so far in 202223, Bloomberg News reported, citing the food ministry.
Wheat exports, in the past, have been limited by concerns over quality and because the government buys large volumes at guaranteed minimum prices. But the sharp rise in global prices has prompted many Indian growers to seek export deals because they can get higher rates than offered by the state.