Mumbai, 30 Mar (Commoditiescontrol): India, the second largest wheat producer in the world, has decided to extend its ban on wheat exports to ensure sufficient domestic supply. The country's nodal agency for food grain procurement, the Food Corporation of India (FCI), has announced that the ban will not be lifted until India has fulfilled its own requirements for wheat and the stock has reached a "comfortable position".
The ban was first imposed by the Union Government in May last year to control rising prices after a slight fall in domestic production and a sharp decline in the FCI's procurement for the central pool. The FCI's Chairman and Managing Director, Ashok K Meena, stated that the ban would continue to ensure food security in the country and that there would be no relaxation until India completes its wheat procurement for this season.
Meena also addressed concerns about a decline in wheat production due to rain and hailstorms in major wheat-producing states. He stated that India was set to harvest a record wheat production of 112.8 million tonnes this season, despite reports of crop damage. While rain is a cause for concern regarding wheat quality, low temperatures accompanying the rain had favored the wheat crop.
Meena also stated that there would be no relaxation in the norms for moisture content during procurement, despite recent rainfall. Farmers are advised to dry their wheat produce before bringing it to the market. The FCI's opening balance of wheat stock for April is set to stand at 84 lakh metric tonnes, with an operation wheat stock reserve of 44.6 lakh metric tonnes and a strategic wheat reserve of 30 lakh metric tonnes, according to current Foodgrains Stocking Norms.
(By Commoditiescontrol Bureau: 09820130172)
0 Comments 
Post Comment 
