The four year old ban on wheat exports has decided to lift by the Govt, at the current global prices the shipment of the grain is not viable.
For boosting the domestic supply and contain inflation, the Govt banned wheat exports since early 2007. But on the sideline of an ICAR function, the agricultural minister Sharad Pawar told reporters that "Yes, There is No ban. Wheat Exports are allowed" and he also added the Govt has not announced the quantity of wheat allowed for exports as global prices are very low.
Just recently, financial minister Pranab Mukherjee headed Empowered Group of Ministers(EGoM) on food, in which Pawar aso a member, had given in principal approval to lift the ban on wheat exports in the wake of overflowing stocks.
Presently the Govt godown have the wheat stock of 37.8 million tones(MT) in view of bumper output.
"i don't think there will be any response. The issue is whether we will be able to sell in the global market at such low international prices" by Pawar for expressing the doubt on viability on wheat exports.
The agricultural ministry is yet to announce the final production estimate, source said that the country total wheat output has touched a record a record 86 million tone in the 2010-11 crop year(july to june), the previous year output were 80.80 MT.
