India Is Not Moving to Restrict Wheat Exports

Following earlier reports that the world’s second biggest producer of the grain was mulling restrictions after a heat wave damaged crops, the top official at the food ministry said India is not moving to restrict wheat exports.

India can still easily export at least 8 million tons of wheat in the current fiscal year that began in April, and that the government would only consider export curbs after any sudden, unexpected surge in overseas shipments, according to food and farm ministry officials said on Wednesday.

It is reported that as India has sufficient stocks of wheat hence there is no move to curb wheat exports.

India, which has seen five consecutive years of record harvests, has cut its wheat output forecast to 105 million tons from a February estimate of 111.3 tons as a sudden sharp rise in temperatures in mid-March cut crop yields.

Modi said Indian farmers are coming forward to sell wheat on the world market as many countries struggle to meet supplies, when he was addressing the Indian diaspora in Germany on Tuesday.

“Big nations are worried about food security, and at this time India’s farmers are coming forward to feed the world,” Modi was quoted as saying.

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