The Center has approved the sale of 30 million tons of wheat in the open market, the Food Ministry said

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Earlier this month, Director General of Foreign Trade Santosh Kumar Sarangi had also said that the Center would take an appropriate decision on the request to lift the ban on wheat exports during the March-April harvest.

The Center has approved the sale of 30 lakh metric tonnes (LMT) of wheat proposed under the Open Market Sale (OMSS) scheme, a Food Ministry official told CNBC-TV18, adding that the wheat will be sold through traders, state governments and cooperatives. , federations and UAP.

Earlier in the day, government sources told CNBC-TV18 that the sale of wheat in the open market will begin soon to control the price hike. Wheat prices are expected to fall as international prices also fall, sources said, with wheat futures looking bleak for the next six months.

Government sources also added that the Center did not plan to review the ban on wheat exports until the next harvest in March.

Earlier this month, Director General of Foreign Trade Santosh Kumar Sarangi had also said that the Center would take an appropriate decision on the request to lift the ban on wheat exports during the March-April harvest.

“The wheat crop in India will be harvested in March-April, after which the government will take an appropriate decision regarding the wheat export ban. Moreover, if it is considered that there is a balance between the demand and supply of wheat, measures will be taken to enable export,” he said.

Last week, a government official told CNBC-TV18 that the export ban on wheat and broken rice will continue and the free food grain scheme will get an additional annual subsidy of Rs 14,000 crore. krona or less than 0.1% of GDP.

The official said wheat prices were rising and the grain was needed for domestic supply, while data on agricultural commodities was still awaited. The official said the government has no plans to lift or ease the ban on wheat exports or broken rice exports. The official also said that the wheat export ban may continue this year if stocks do not improve.

The government also has no plans to change the minimum selling price of sugar as its price is stable, an official said last week.

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