Govt to review situation on availability and global demand before any nod to wheat exports

By Abhimanyu Sharma

Minister for Consumer Affairs, Food and Public Distribution and New and Renewable Energy, Pralhad Joshi on Monday said that the Food Ministry will speak to the Commerce Ministry to analyse the situation on availability and global demand of wheat before any decision can be taken to restart wheat exports.

Pointing that wheat procurement is proceeding well and the food stock situation is better than last year, the Minister said that the government is augmenting storage capacity as well as the overall efficiency of depots to curb spoilage of food grains.

Stating that ample food stocks were made available in border states ahead of Operation Sindoor, the Minister assured that there’s no reason to worry about any shortages of edible products. The government is confident of crossing 320 LMT in wheat production in the current year, from which around 184 LMT will be needed for PMGKAY.

Edible Oils and Sugar

Attributing the rise in edible oil prices to an increase in global prices of crude oil, edible oil, availability of mustard as well as an increase in duties, Food Secretary Sanjeev Chopra expressed hope for a better stock position in a month’s time.

He said that the government is keeping a watch on edible oil prices and will intervene at an appropriate time. On sugar stocks, he projected availability of 50 LMT stock by the end of the current sugar season in October-November, stating that the stocks will suffice for the subsequent 2 months as fresh produce will start coming in during the autumn months.

He projected the sugarcane crop to do much better, adding that he doesn’t anticipate any issue with sugar production or prices going forward.

This article has been republished from The CNBCTV 18.