India proposes lifting 3 year wheat-product export ban amid record stocks

products. The proposal, sent to the commerce ministry, cites strong crop prospects and ample domestic supplies. Officials argue that controlled exports can help India reclaim its traditional markets for flour, maida, and sooji. Trade sources said the Food Corporation of India’s (FCI) open market sale scheme for bulk buyers, which began earlier this week, received a lukewarm response. Only 69,000 tonnes of wheat were sold through e-auction at Rs 2,550 per quintal, against 0.2 MT on offer. Analysts say the strong stock position has helped stabilize retail prices. Flour millers have welcomed the proposal. Navneet Chitlangia, president of the Roller Flour Millers’ Federation of India, said that the industry is expecting another bumper harvest this year due to surplus monsoon rains. “Lifting restrictions will help us reclaim our traditional wheat product export markets,”he noted. Before the export ban, India supplied wheat products to Africa, Gulf nations, and South Asian countries. ...