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Government won’t lift curbs on wheat export before next crop

NEW DELHI: The government is not lifting the restrictions export from wheat before the next harvest, which arrives in March-April, considering how last year production was affected by the early start of summer in March, which affected the Food Society of Indiapurchasing objective. The center is also likely to soon issue a call for wheat to be sold from its stock on the open market to cool prices, which hit an all-time high on Tuesday due to less availability.
Sources said that while there is a demand to cut wheat exports, the priority for the government is to ensure that the price of the staple food grain does not rise exorbitantly in the domestic market. “There is no scope to allow exports if we have less availability. We will soon be offering wheat for sale on the open market,” an official said. FCI) is released to the open market quickly to moderate prices.
Data from the government’s price monitoring cell shows that the average selling price of wheat on Tuesday was Rs 33.3 per kg, which is 17.6% higher than last year and 40.3% higher than five years ago. Similarly, the average selling price of atta (wheat flour) on Tuesday was Rs 37.8 per kg, which is 19.8% more than last year and 44.2% higher than the price at which it was sold five years ago.
Data from the Ministry of Consumer Affairs also shows that the modal selling price (most common price in the centres) of wheat and atta rose to Rs 29 and Rs 35 per kg respectively on Tuesday, from Rs 22 and Rs 28 per kg six months ago .
The trend is similar to atta wholesale prices.
Meanwhile, the trend shows that in the major mandis of Madhya Pradesh, Haryana, Punjab and Rajasthan, wheat prices are 41%-44% above the minimum support price (MSP) of Rs 2,015 per quintal for the current season due to supply constraints. Last year’s low production and the spike in wheat exports in the first few months due to Russia and Ukraine were the main causes of the shortage.
Data shows that wholesale prices for wheat exceeded Rs 2,900 per quintal on Tuesday at Sehore, one of the largest mandis in Madhya Pradesh and in Delhi, it sold at Rs 2,815. The arrival of wheat has been less because farmers have little stock of it.
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