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India was never traditional exporter of wheat to world: Goyal
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IANS | 25 May, 2022
Asserting that it was never a traditional player in the international
wheat market, India on Wednesday said it will continue to allow wheat
export for countries that are vulnerable, friendly, and have letters of
credit.
In his address at the World Economic Forum at
Davos, Indian Consumer Affairs and Food and Public Distribution
Minister, Piyush Goyal said: "India was never a traditional player in
the international wheat market and export of wheat only began about two
years ago. Last year, seven lakh metric tonnes (LMT) wheat was exported
and the majority was done within the last two months when the war
between Russia-Ukraine broke out."
"India will continue to allow
wheat export for countries which are in serious need, are friendly and
have the letter of credit," he said.
"India wheat exports are
less than one per cent of world trade and our export regulation should
not affect global markets. We continue to allow exports to vulnerable
countries and neighbors."
Goyal highlighted that while a 7-8 per
cent rise in India's wheat production was expected this year, severe
heat waves led to early harvest and loss of production.
"Given this situation, what we are producing is about enough for domestic consumption," he added.
India's
wheat production this year has been estimated at 106.41 million tonnes,
down three per cent compared to previous year. The government had
earlier last month announced that it can export wheat to the whole world
and there was nothing wrong if the farmers earned better due to
increased exports.
However, within weeks, after the government
procurement showed a dip, it made a u-turn and said providing for its
own people is priority and along with it, the government will also take
care of the real needy countries, including the neighbours.
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Customs Exchange Rates |
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As on 13 Aug, 2022 |
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