Hours after imposing a ban on wheat exports, top officials said the decision had been taken to stop “unregulated trade and hoarding” to curb inflation and ensure supplies to poor and vulnerable nations, Trend reports citing The Tribune.
Production has not gone down “dramatically” they insisted, adding that trade was being regulated to rein in the rising domestic prices. There is a sufficient quantity of stocks. The price rise was imported (due to international prices). If global prices change, the ban can be reviewed, an official said.
“No order is in perpetuity. If the figures change, if global prices change and if the food and agriculture departments are comfortable, it will be reviewed,” Commerce Secretary BVR Subrahmanyam said.
The order serves three main purposes - maintaining food security for the country, helping others who are in distress and maintaining India’s reliability as a supplier, Subrahmanyam said, asserting that all export orders where the letters of credit had 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,” he said.
Food Secretary Sudhanshu Pandey said the government has boosted the availability of wheat by reallocation to states. Agriculture Secretary Manoj Ahuja said heatwaves hampered wheat crop, especially in Northwest, but the difference compared to last year was “marginal”. “Last year, the production figures of wheat were 109 LMT. Our estimates show 105-106 LMT this year,” he added.