FCI chief said, ban on export of wheat will continue till prices soften, supply increases

Wheat Export Ban: Due to the continuous increase in the prices of wheat in the domestic market and insufficient domestic supply, the ban on export of wheat will continue. Ashok K Meena, head of the Food Corporation of India, has given this statement. He has expressed the hope that the production of wheat will not be affected by the rains that have occurred in the recent past and the production of wheat will definitely achieve its target. Ashok K. Meena said that 10,727 tonnes were procured in Madhya Pradesh and wheat is being procured across the country.

In fact, in May 2022, after Russia’s attack on Ukraine, the export of wheat was banned. On 13 May 2022, the government had banned the export of wheat after rising prices of wheat in the domestic market and decline in production. The Government of India had restricted the export of wheat to manage the food security situation in the country and to meet the needs of neighboring and vulnerable countries. Due to changes in the global market and lack of sufficient supply of wheat, the Government of India had banned the export of wheat.

Last year, after the government banned the export of wheat, it was believed that the prices of wheat would soften, but it did not happen. Despite this, a huge increase was seen in the prices of wheat. Between February and March, to control the skyrocketing prices of wheat, even after the government sold wheat in the open market, the prices have not softened. Flour has not become cheap yet. The retail market is not taking the name of the reduction in the prices of flour. A 10 kg packet of packed branded flour is still available in the retail market for Rs 410 to 426. That is, one kg of flour is available for Rs 40 to 43 per kg.

In this rabi season, bumper yield of wheat is expected. But in the second fortnight of February, a rise in temperature was observed, and after unseasonal rains in March, concern about the wheat crop has started increasing. The rise in temperature and unseasonal rains may affect wheat production, which is why the government wants to continue the ban on wheat exports.

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