Tatsat Chronicle Magazine

No Immediate Plan to Lift Wheat Export Ban: Piyush Goyal

Referring to the current instability in the world, the union commerce minister believed that lifting the ban, it will only help black market traders, hoarders and speculators.
May 26, 2022
Wheat Export Ban

Commerce Minister Piyush Goyal told Reuters that India had no immediate plans to lift restrictions on wheat exports, but would continue to deal directly with other governments.

Asked about India’s plan to restart private exports, Goyal said that there is instability in the world at present and if restrictions are lifted, it would only help black marketers, hoarders and speculators. It will not really help the weak and needy countries.

In an interview to the international news agency at the World Economic Forum in Davos, the union minister said, the smartest way to do this is through government-to-government channels, through which India can deliver cheap wheat to the poorest of the poor.

In a statement issued by PIB, Goyal said that India will continue to allow the export of wheat to countries that need it the most, are friends and have good credit.

The minister said, while a 7 to 8 percent rise in wheat production was expected this year, severe heat waves led to early harvest and loss of production. “Given this situation, what we are producing is about enough for domestic consumption,” he added.

Piyush Goyal said that India has never been a traditional player in the international wheat market and the export of wheat started about 2 years back. He said, 7,00,000 metric tonnes of wheat were exported last year, mostly in the past two months since the start of the Russo-Ukrainian war.