India to review export bans on wheat & rice, aims to fill shortfall in Kharif procurement

The Union Government is aiming to periodically review export bans on wheat and rice, depending on the stock availability and retail prices in the Indian market. In an exclusive conversation with CNBC-TV18, Food Secretary Sanjeev Chopra said that the arrival of the Kharif (rice) crop has been good so far despite some problems faced in key producing state Punjab, and the government aims to make up for the shortfall in the next 10 days.

Terming it too early to forecast the quantity for the Rabi crop whose sowing is yet to begin, he said that the government will be able to have a better idea by December 2023.

With stability witnessed in edible oil prices of late, Chopra said that no price rise is expected in the commodity for the next few months. He explained that a large amount of crude edible oil has already been imported by several companies in India when global prices were on a downward trajectory.

Tags: edible oil, Market, retail prices, rabi, bans, kharif, export, crude edible oil, rice, wheat, India, crop