India to lift ban on wheat exports
The Indian government has decided to lift a long-running ban on wheat exports. India had banned wheat exports since early 2007 to boost domestic supply and contain inflation.
"Yes, there is no ban. Wheat exports are allowed," Indian Agriculture Minister Sharad Pawar told reporters on the sidelines of a function in New Delhi.
The remarks by Pawar came a few days after the government decided to allow 300,000 tonnes of non-basmati rice to Bangladesh on humanitarian grounds as part of a plan for one million tonnes of rice to parts of the world.
The government has not announced the quantity of wheat allowed for exports as global prices are low, he said.
Recently, Finance Minister Pranab Mukherjee who headed Empowered Group of Ministers on Food, in which Pawar is also a member, had given in principle approval to lift the ban on wheat exports in the wake of overflowing stocks.
At present, the government warehouses are overflowing with a wheat stock of 37.8 million tonnes in view of bumper output.
Comments