India considers allowing further wheat exports

NEW DELHI Thu Jan 31, 2013 8:21pm IST

Farmers carry wheat crop in a field at Bhadari village, 30 km (19 miles) from Allahabad April 8, 2008. REUTERS/Jitendra Prakash/Files

Farmers carry wheat crop in a field at Bhadari village, 30 km (19 miles) from Allahabad April 8, 2008.

Credit: Reuters/Jitendra Prakash/Files

Related Topics

NEW DELHI (Reuters) - India is considering allowing additional wheat exports to cut huge stocks at government warehouses and make room for the new season's harvest, Food Minister K. V. Thomas said on Thursday.

After lifting a four-year-old ban on wheat exports by private traders in 2011, last year the government approved 4.5 million tonnes of exports from its overflowing warehouses, and more than 2 million tonnes of this total has yet to be shipped.

Approval of yet more exports by India, the world's biggest wheat producer behind China, will help buyers in the Middle East and Africa as leading suppliers Russia and Australia are facing falling output.

"We are considering some more exports. That is the best way to lower your huge surplus stocks when world prices are good," Thomas told Reuters.

Separately, Thomas said the government would prefer to wait until end-February to get a clear idea about the 2012/13 season sugar output before conceding to industry's demand to raise import tax. (Reporting by Jo Winterbottom and Mayank Bhardwaj; Editing by Anthony Barker)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

School Shooting

School Shooting

Two killed, four wounded in Washington state school shooting.  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage