India is not moving to curb wheat exports, the top official at the food ministry said on Wednesday, followingan earlier reportthat the world’s second biggest producer of the grain was mulling restrictions after a heat wave damaged crop.
Food and farm ministry officials said on Wednesday that Indiacan still easily export at least 8 million tonnes of wheatin the current fiscal year that began in April, and that the government would only consider export curbs after any sudden, unexpected surge in overseas shipments.
“There is no move to curb wheat exports, as the country has sufficient stocks of wheat,” Food Secretary Sudhanshu Pandey toldReuters.
Chicagowheat futures soared Wednesdayon reports that India would restrict exports as a drought threatened its production.
Record wheat crop
In April, India reportedbumper harvests and overflowing grain binsthat would help it meet wheat import needs of the world's top buyers asRussia's Ukraine invasion hits suppliesfrom the Black Sea region.
India, the world's second biggest wheat producer, said it was prepared to meet any extra demand for wheat from buyers in south Asia and Southeast Asia, and also from countries further afield in Europe, West Asia and North Africa.
India's wheat production is pegged at a record 111.32 million tonnes - making it the sixth season in a row that the country has produced a surplus.
Wheat stocks at government warehouses totaled 19 million tonnes on April 1, significantly higher than a target of 7.46 million tonnes.
