India is unlikely to export, import wheat as, right now, the government is clearing FCI stocks

  • 28-Feb-2023
  • India is unlikely to export, import wheat as, right now, the government is clearing FCI stocks

NEW DELHI: "India is not likely to import wheat at this time because the government is now clearing FCI inventories, which would satisfy the need. The goal is to get rid of as many goods as you can to make room for purchases the next year, an official stated.

According to those monitoring the situation, it is unlikely that the Center's decision to forbid wheat imports and exports would change in the near future.

Before deciding to sell 50 lt from the Central Pool under the open market sales scheme (OMSS), the government calculated its wheat inventories at 126 lakh tonnes (lt) as of April 1, 2023. 

When compared to the buffer norm of roughly 75 lt, the country may have around 90 lt of stock as of April 1, 2023, due to the OMSS's robust offtake and the likelihood that up to 30-35 lt of its allotment will be used up by March 31.

In regards to wheat exports, the official stated that the Inter-Ministerial Committee will decide on the issue after the fresh crop enters the market in April and a more precise output estimate is available. Get Export Import Data

"Last year, it turned out that a blistering heat wave in March had a negative impact on a portion of the wheat crop, necessitating an emergency reversal of the export decision. Such circumstances ought to be prevented, he advised.

Exports during the procurement season caused official purchases to decrease to a 15-year low of 188 lt in the 2022-23 seasons (April-March), from 433 lt in 2021-22, as a result of the heat wave-related yield drop last year.

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