India wheat supply to exceed demand in FY09, FY10

India's wheat supply will exceed local demand for the fiscal years ending March 2009 and 2010, Akhilesh Prasad Singh, the country's junior food minister, said Friday (December 19), hinting that there won't be any need for imports.

Wheat supply during 2008-09 was estimated at 75.7 million tonnes against a domestic demand of 72.7 million tonnes and 76.4 million tonnes for 2009-10 against a requirement of 74.3 million tonnes, he said in parliament.

"As per these projections, the requirement of wheat can be met from the domestic resources," Singh said.

The minister said the government has decided to export up to 2 million tonnes of wheat from the federal foodgrain reserve, through government-to-government deals, to some friendly nations. The minister didn't set a timeframe for the exports.