'Favourable time for wheat, sugar exports'

[katharnak]

NEW DELHI: Agriculture minister Sharad Pawar said that the government should allow limited exports of wheat, rice and sugar to benefit from high global prices as the country have ample stocks.

“We have ample buffer stock of wheat and this year's crop condition is extremely good. I am sure the next meeting of empowered group of ministers (eGoM) this week will give a serious thought to it,” Pawar said.

The minister also favours that the exports should be allowed only to the extent where it doesn't hurt domestic consumers.

According to data provided by the food ministry, the government had 47 million tonne of foodgrains with the Food Corporation of India (FCI) and state government procuring agencies as on February 1. The 27.8 million tonne of rice and 19.37 million tonne of wheat are well above strategic reserve and buffer stocks norms.

There are speculations that country's wheat production is likely to hit a record 84 million tonnes this year.