Food and Agriculture Ministry officials said on Wednesday that India could still easily export at least 8 million tonnes of wheat in the current fiscal year starting in April, and that the government would consider limiting exports only after a sudden increase in overseas shipments. and unexpected.
“There is no intention to limit wheat exports as the country has sufficient wheat stocks,” Food Minister Sudhanshu Pandey told Reuters.
Bloomberg reported earlier that India was considering the move after warm weather dampened its production outlook, stoking concerns over global supply fueled by Russia’s invasion of Ukraine, which has sent food inflation spiraling.
The report, citing unnamed sources, said senior officials were discussing the decision and would recommend it to Indian Prime Minister Narendra Modi, who would then make a decision.
India, which has had a record fifth straight year of harvest, cut its wheat production forecast to 105 million tonnes, from a forecast of 111.3 tonnes in February, as a sharp rise in temperatures in mid-March reduced crop yields.
Speaking to the Indian diaspora in Germany on Tuesday, Modi said Indian farmers are increasing sales of wheat on world markets as many countries struggle to keep up with supplies.
“Big countries are worried about food security, and right now Indian farmers are stepping up to feed the world,” Modi said.
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