India will not allow the sale of wheat to other countries because the government wants to make sure there is enough wheat for people in India to eat and to keep the prices of food stable. The government has started to buy wheat from farmers, and the first week's numbers are good. The Minister believes that there will be enough wheat even though there was unusual rain. He wants to make sure inflation is also under control in the country, and so the ban on exports will continue. The government has predicted that there will be a record amount of wheat production this year, which will provide enough wheat for both the government and the people in India.
The Indian government has announced that the ban on exports of wheat will continue to ensure that there is enough food supply for domestic consumption and to control inflation in the country. Piyush Goyal, the Union Minister of Commerce, Industry, and Consumer Affairs, Food, and Public Distribution, stated that the government has already started procuring wheat from farmers and that the numbers for the first week of buying are “very” satisfactory.
Despite unseasonal rains, the Minister expressed confidence in a good harvest and stated that it is crucial to ensure adequate supplies of wheat for the Indian market. Once the procurement period is over, it will be important to contain inflation in the country, and therefore the ban on wheat exports will remain in place.
India, the second-largest wheat producer in the world, imposed the ban in May 2022 as a measure to control rising domestic prices. The State-owned Food Corporation of India (FCI) has also confirmed that higher wheat production estimates this year will ensure sufficient supplies for both government procurement and general consumption in the Indian market.
Overall, the government is taking steps to ensure that the Indian market is stable in terms of food supply and pricing, while also working to enhance economic ties with other countries like Italy.