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India does not plan to import wheat

Индия не планира внос на пшеница

India has no plans to import wheat and its farmers are likely to harvest a bumper crop that will boost stocks in the world's second-largest wheat producer, the country's commerce minister said.

"Recent reports indicate that the crop is quite good and this year's production is expected to touch a record 114 million tonnes," Piyush Goyal told reporters.

India banned wheat exports in 2022 after output was curtailed by a heat wave, but overseas sales have picked up recently as Russia's invasion of Ukraine sent global prices to multi-year highs.

The government has sold about 6 million tonnes of wheat to domestic wholesale buyers since June, when the state-run Food Corporation of India began selling the grain from its reserves.

Despite the sale of wheat from its granaries, stocks in government warehouses are likely to remain above the target of 7.46 million tonnes set for April 1, when the new marketing year begins, a senior government official said earlier this month.

Wheat stocks in the country's state warehouses amounted to 16.47 million tons as of January 1. Goyal said India will continue to limit its exports of wheat, rice and sugar for now. "We are committed to protect the interests of both consumers and farmers," he added.

India, which is also the world's second-largest rice producer, last year banned overseas shipments of non-basmati white rice. New Delhi has also banned factories from exporting sugar this year.

Goyal explained that his government has no plans to allow duty-free imports of maize, rejecting the demands of the poultry industry.

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