India is expected to export 3 lakh tonnes of wheat each in the financial years 2023-24 and 2024-25

27-Aug-2024 07:50 PM

London. The International Grains Council (IGC) has estimated the export of 3 lakh tonnes of wheat each from India in the financial years 2023-24 and 2024-25.

The financial year 2023-24 has ended while the financial year 2024-25 is still going on. It is worth noting that the commercial export of wheat from India has been banned since 2022, but there is no ban on its shipment at the government level.

As far as wheat production in India is concerned, there is no difference in the data of IGC and the Union Agriculture Ministry.

The Ministry of Agriculture has estimated domestic production of wheat to be 1106 lakh tonnes in the Rabi marketing season of 2023-24 and 1129 lakh tonnes in the marketing season of 2024-25, which is equal to the figures of IGC.

It is noteworthy that despite record domestic production, government procurement of wheat remained far behind its target and could increase only by about 4 lakh tonnes compared to last year. As a result,

the stock of this important food grain in government warehouses could not increase much and hence the government has to think about starting sales from its stock under the Open Market Sale Scheme (OMSS).

It started from the last week of June last year, but this year it has not started even in the last week of August.

The wholesale and retail price of wheat is running much higher than the government support price, due to which the common people are facing difficulties.