May 26, 2022
NEW DELHI – India will continue to allow wheat exports to countries that are in serious need and are friendly and have the letter of credit, Union Minister for Consumer Affairs & Food and Public Distribution Piyush Goyal said today.
Speaking at the World Economic Forum at Davos in Switzerland, he highlighted that while a 7%-8% rise in wheat production was expected this year, severe heat waves led to an early harvest and the loss of production. “Given this situation, what we are producing is about enough for domestic consumption,” Goyal added.
India was never a traditional player in the international wheat market and the export of wheat only began about two years ago.
He noted that last year, 7 LMT wheat was exported and the bulk of exports was done in the last two months of the year.
“India wheat exports are less than 1% of world trade and our export regulation should not affect global markets. We continue to allow exports to vulnerable countries and neighbours,” the minister said.