Begin typing your search above and press return to search.
exit_to_app
Russia invades Ukraine; unusual military action
access_time 2022-02-24T15:55:36+05:30
The subversion of democracy in resort politics
access_time 2022-06-24T09:37:55+05:30
What they need is jobs
access_time 2022-06-20T09:32:54+05:30
Agniveers for whom?
access_time 2022-06-16T10:01:30+05:30
DEEP READ
exit_to_app
Homechevron_rightBusinesschevron_rightEnough wheat stocks,...

Enough wheat stocks, export ban only to maintain supply balance: Centre

text_fields
bookmark_border
Enough wheat stocks, export ban only to maintain supply balance: Centre
cancel

New Delhi: The Centre informed that it is to maintain a balance of domestic supply and not because of the shortage that the government has imposed a ban on wheat export.

There was no shortage of wheat in India, but the Union government has imposed a ban on its export to check "rampant" overseas sales of the grain, Union Agriculture Minister Narendra Singh Tomar has said.

Speaking to reporters on Thursday, May 26, Tomar said it was the government's duty to maintain a balance in the market. "For us, the nation's interest comes first. And that is why there was no shortage of wheat in the country.

It is the government's duty to maintain a balance in the market. Hence, we have imposed a ban to check rampant export of the food grain. We have to meet the country's demand, the minister said.

On May 14, India, the world's second-biggest producer of the cereal, announced a ban on wheat exports as a part of measures to control rising domestic prices amid concerns of output being hit by scorching heatwaves. India's wheat exports stood at an all-time high of 7 million tonnes, valuing USD 2.05 billion, in 2021-22 on better demand of Indian wheat from overseas.

Of the total wheat exports, around 50% went to Bangladesh. Tomar said India has to also look after the foodgrain needs of its neighbours. "Our neighbouring countries depend on us. Many countries in the world need foodgrains, and they are looking at India. We have a responsibility to our neighbouring countries," he said. To discharge all these responsibilities, we have taken the decision (to ban export) by checking our account (stock), the minister said, responding to a query on the Congress's allegation that overseas shipment of wheat was stopped without any planning.

Show Full Article
TAGS:wheat Export ban 
Next Story