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The Indian government has authorized the export of specified quantities of wheat, wheat flour, and broken rice to five countries, including Bhutan, Mali, and Indonesia. The permission covers shipments through the National Cooperative Exports Limited (NCEL). The quantities permitted for Bhutan include wheat grain, atta, maida/semolina, and broken rice.
Under the scheme, FCI offers wheat through weekly e-auctions at a reserve price of Rs 2,125 per quintal, which is equivalent to the current Minimum Support Price (MSP) of wheat, it said.
The government also allowed exports of non-basmati rice to Bhutan (79,000 tonnes), Mauritius (14,000 tonnes) and Singapore (50,000 tonnes) through the National Cooperative Exports Ltd (NCEL). On September 9 last year, the government banned the export of broken rice to check rising retail prices and boost domestic supply.
The government has invited applications from exporters to allocate quota for exports of wheat to Bhutan during 2023-24 on humanitarian and food security grounds. Get more Economy & Infra News and Business News on Zee Business.
If India turns out to be an unpredictable supplier, then traders both in India and abroad will start hedging their positions on Indian suppliersÂ