India had 25.1 million tonnes of wheat in government
warehouses as of January 1, sources said on Thursday, more than three times the
target, potentially making it easier for the government to allow exports to
cash in on attractive global prices, according to the Economic Times.
Bumper harvests since 2007 have led to huge stockpiles of
rice and wheat with the government, which buys from farmers to meet emergencies
and run welfare programmes.
India's milled rice inventory at the beginning of January was 11.7 million tonnes against a target of 11.8 million tonnes. Government's rice inventory target is for paddy or unmilled rice.
India's milled rice inventory at the beginning of January was 11.7 million tonnes against a target of 11.8 million tonnes. Government's rice inventory target is for paddy or unmilled rice.
India in
2011 lifted a four-year-old ban on wheat and non-basmati rice exports to
offload grains from its bulging bins. The country has shipped out nearly 7
million tonnes of wheat from its warehouses in the past few years.
Since 2009, the government has kept an additional 3 million tonnes of wheat and 2 million tonnes of rice as strategic reserves in addition to the monthly stocks.
Since 2009, the government has kept an additional 3 million tonnes of wheat and 2 million tonnes of rice as strategic reserves in addition to the monthly stocks.
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