January 25, 2023

India not expected to lift curbs on wheat exports until March/April

India will not lift curbs on wheat exports before the next crop arriving in March/April, as production was affected in 2022 because of an early onset of summer in March, which impacted the Food Corporation of India's (FCI) procurement target, The Times of India reported.

FCI will likely take a call soon on wheat sales from its current stock in the open market as it aims to cool down record high prices.

Sources in the Indian government said the top priority is to ensure that the price of the staple food grain doesn't rise excessively on the domestic market, even though there has been demand to life wheat export restrictions.

A representative in the government said giving export permission now, when India has less stock available, makes no sense, and wheat will soon be available for public sale. To lower prices, the flour millers have been requesting the early release of wheat from FCI's stocks.

The main causes of the shortage have been the low output from last year and the sudden increase in wheat exports in the first few months due to the conflict between Russia and Ukraine.

-      The Times of India