Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Centre Does A U-Turn On Wheat Exports.


Date: 20-07-2011
Subject: Centre Does A U-Turn On Wheat Exports
The Centre has put on hold the decision to allow wheat exports, citing unfavourable global market conditions. The move comes barely 48 hours after Union Agriculture Minister Sharad Pawar announced that the four-year ban on wheat exports had been lifted.

However, export of rice and wheat products (maida and atta) will resume soon and the commerce ministry was working on last-minute modalities for facilitating the move.

Ministry officials said the decision on wheat exports comes in the backdrop of Russian black sea wheat flooding the global markets. While Russia is selling its wheat for $244 per tonne, Indian wheat would have been priced at $300 per tonne.

“Even if wheat export was allowed, shipments would further get delayed while wheat stock from Russia has already reached the global markets,” said an official..

“Annual wheat production has exceeded 80 million tonnes for three years now and market prices have been more or less stable. However, price wise, Indian wheat may be out of parity, as world wheat prices are at least 10 per cent lower than the domestic price in India.”

The official reasoned that setting a minimum export price at this point in time will neither help the traders. “The decision therefore has been kept on hold for a while,” he said.

Last week, the empowered group of ministers on food (EGoM) headed by Finance Minister Pranab Mukherjee had given an in-principal approval to lift the ban on wheat exports. It had also said that one million tonnes of common rice exports will be allowed, while wheat product exports may have an overall limit of 6.5 lakh tonnes.

The ban on shipments of wheat products was relaxed twice this year to allow preferential exports to Maldives and Afghanistan.

In early July, the government had foodgrain stocks of around 65 million tonnes (rice and wheat), much above the 35 million tonnes of buffer stock. Wheat production currently stands at 37.8 million tonnes and is expected at a record 84.27 million tonnes in 2011, after an all-time high output of 80.80 million tonnes last year.

India had banned shipments of wheat in early 2007 and non-basmati rice in April 2008 to bolster domestic supplies. The central foodgrain stock at Food Corporation of India (FCI) godowns was 65.6 mt in June — a three-fold rise in the quantity collected five years ago.

Rice exports will carry a minimum export price of $400 per tonne for the non-basmati variety and a MEP of $850 per tonne for other varieties. The final notification may put a cap of 12,500 tonnes for each exporter within the overall limit of one million tonnes.

Source : sify.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 30-05-2025
Notification No. 31/2025-Customs
Seeks to i. extend the specified condition of exemption to imports of Yellow Peas (HS 0713 10 10) to bill of lading issued on or before 31.03.2026; ii. to reduce the basic custom duty on crude soya bean oil (HS Code 15071000), crude sunflower oil (HS Code 15121110), and crude palm oil (HS Code 15111000) from 20% to 10%

Date: 30-05-2025
Notification No. 38/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 26-05-2025
NOTIFICATION No. 37/2025-Customs (N.T.)
Notification of ICD Jalna, Maharashtra u/s. 7(1)(aa) of Customs Act, 1962" and it was issued under Section 7(1)(aa) of Customs Act, 1962

Date: 23-05-2025
Notification No. 30/2025-Customs
Seeks to amend notification No. 55/2022-Customs dated 31.10.2022 to remove the condition required for availing exemption on Bangalore Rose Onion.

Date: 23-05-2025
NOTIFICATION No. 36/2025 - Customs (N.T.)
Amendment in the Notification No. 63-1994-Customs (N.T) dated 21.11.1994 in respect of Land Customs Station, Raxaul

Date: 15-05-2025
Notification No. 34/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 09-05-2025
Notification No. 29/2025-Customs
Seeks to exempt works of art and antiques from Basic Customs Duty

Date: 30-04-2025
Notification No. 02/2025-Customs (CVD)
Seeks to amend Notification No. 05/2024-Customs (CVD) dated the 11th September, 2024 so as to align with changes made vide Finance Act, 2025

Date: 30-04-2025
Notification No. 26/2025-Customs
Seeks to rescind Notification No. 04/2025-Customs dated the 1st February, 2025

Date: 30-04-2025
Notification No. 27/2025-Customs
Seeks to amend Second Schedule to the Customs Tariff Act, to align it with changes made in the First Schedule to the Customs Tariff Act vide Finance Act, 2025.



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001