Govt Mulls Allowing Wheat, Sugar Exports.

The government was considering to allow wheat exports on the back of estimates of record production this year, food minister K V Thomas said on Wednesday. The government would also look into allowing sugar exports besides reducing the minimum export price for onions, he said.

"Wheat production is expected to be a record and we have sufficient stocks in our godowns. We are looking at ways to use the surplus stocks, including exports," Thomas told PTI. Wheat exports had been banned since 2007. As on January 1, the government godowns had 21.2mt of wheat against the buffer norm of 11.2mt.

According to the government's second advance estimates, wheat production was likely to touch a new record of 81.47mt in the 2010-11 crop year and there were possibilities of even 84mt. The minister said he had asked the state governments to increase lifting of wheat under the open market sale scheme in order to help clear the stock with the Food Corporation of India (FCI) and create space for new crop.

Source : fnbnews.com