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A panel of Indian ministers would decide on India wheat exports next week, according to a report in moneycontrol.com citing India’s Food Minister, K.V Thomas.
27 Apr 2011
NEW DELHI (Commodity Online) : A panel of Indian ministers would decide on India wheat exports next week, according to a report in moneycontrol.com citing India’s Food Minister, K.V Thomas.

The minister had ruled out exports of wheat on Tuesday saying that such an action would affect the domestic prices.

He acknowledged that Indian agriculture minister’s statement favouring wheat exports was more in line with agriculture ministry’s priority for farmers.

Thomas pointed out that he had a different set of priorities as he was the food minister.

Meanwhile India, world’s second largest wheat producer, is likely to struggle again with its output this season, analysts said.

According to analysts India could easily sell around two million to three million tons of wheat stocks of roughly 32 million with little impact on domestic prices, but policy makers will be even more careful before liquidating their high-value wheat stocks.

The country is set to harvest 82.3 million tons in 2011, up from 80.8 million tons in 2010. India eats 76 million tons of wheat annually.

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