India pledges to continue wheat exports to countries in serious need
India will continue to allow wheat exports to countries that are in serious need and are friendly and have a letter of credit, Minister for Consumer Affairs and Food and Public Distribution Piyush Goyal said on Tuesday.
Speaking at the World Economic Forum at Davos in Switzerland, he highlighted that while a 7-8 per cent rise in wheat production was expected this year, severe heat wave had led to an early harvest and loss of production.
“Given this situation, what we are producing is about enough for domestic consumption,” Goyal added.
India was never a traditional player in the international wheat market and the export of wheat only began about two years ago.
He noted that last year, 7 million metric tonnes of wheat was exported and the bulk of exports was done in the last two months of the year.
“India's wheat exports are less than 1 per cent of world trade and our export regulation should not affect global markets. We continue to allow exports to vulnerable countries and neighbours,” the minister said.
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