The restrictions were placed, because sowing has not been up to expectations on account of irregularities in rainfall
India's cabinet approved a policy to restrict wheat flour exports to calm prices in the local market, the government said in a statement
India's wheat production is projected to have declined nearly 3 per cent to 106.84 million tonnes while the overall foodgrain production is estimated to have touched record 315.72 million tonnes in the 2021-22 crop year. The wheat production is estimated to have declined due to heatwave that resulted in shrivelled grains in the northern states of Punjab and Haryana. Releasing the fourth advance estimate for the 2021-22 crop year, the Union agriculture ministry on Wednesday said a record output is also estimated for rice, maize, gram, pulses, rapeseed and mustard, oilseeds and sugarcane. The crop year 2021-22 was from July 2021 to June 2022. The country's overall foodgrain production is estimated to be record 315.72 million tonnes in the crop year that ended in June 2022, according to the ministry. Agriculture Minister Narendra Singh Tomar said record production of so many crops was the result of the government's farmer-friendly policies as well as tireless hard work of the farmers
Drawdown in wheat stocks, fear of fall in rice production raise doubts on scheme's sustenance beyond Sept 30 deadline
Last month, the government had curbed exports of wheat flour and before that it had banned wheat exports on May 13
Liquidating some stocks from the Central pool for private traders and a curb on excess holding could be considered
The government on Friday said wheat stocks in FCI godowns is expected to be 134 lakh tonnes at the start of next fiscal, 80 per cent more than the buffer norm.
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In the last two weeks, traders have signed contracts to export 1 million tonnes of rice for shipments from June through September
Exceptions were allowed for shipments backed by letters of credit that had already been issued and those to countries that requested supplies to meet their food security needs
The government data highlighted that India's expected production of wheat for 2022-23 remains at near 105 million metric tonnes (MMT)
Export demand from India has seen a surge this year due to the shortage of wheat in the world markets because of the Russia-Ukraine war
Farmers have been holding on to their produce as the price of wheat in the open market recouped some of the losses it suffered in the aftermath of the ban
Here are the top Business Standard headlines on Friday
India is the only major supplier of wheat at this time of year, and its exports of the grain have surged since Russia invaded Ukraine in late February
India has a wheat stockpile estimated at about 100 million tonnes, which exceeds the requirements for a safety net
Experts feel this could keep prices of major farm commodities and products dependent on them, such as poultry and meat, at an elevated level for quite some time