India on Tuesday clarified that it will not resume the export of wheat until it feels the country is comfortable with domestic supplies. Food Corporation of India chief Ashok K Meena asserted that wheat production will not be affected due to recent rains and added the country is confident of achieving the output target.
"Wheat procurement has started across the country, and 10,727 tonnes procured in Madhya Pradesh so far," Meena said.
Notably, New Delhi remained the second largest producer of wheat but had banned the export amid a surge in prices following the Russia-Ukraine war last year. However, this too did not cool down the prices within the country due to extreme heatwaves.
India's wheat exports stood at an all-time high of 7 million tonnes, valuing USD 2.05 billion, in 2021-22 fiscal year on better demand for Indian wheat from overseas. Of the total wheat exports, around 50 per cent of shipments were exported to Bangladesh in the last fiscal.
(With inputs from agency)
Also Read: Govt to sell 20 lakh tonnes of wheat in open market to bring down prices
Latest Business News
