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LATEST NEWS UPDATES | Is the ban on wheat exports good policy? -Vikas Dhoot

Is the ban on wheat exports good policy? -Vikas Dhoot

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published Published on Jun 10, 2022   modified Modified on Jun 12, 2022

-The Hindu

It is ad hoc, hurts farmers’ incomes, and may not impact inflation much 

Over the last month, the government has banned the export of wheat and imposed quantitative restrictions on outbound sugar shipments. The wheat export ban came within days of a push to enhance India’s wheat supplies to the rest of the world after Russia’s invasion of Ukraine. This is a time of persistently high inflation, spurred by rising food and fuel prices, and there are concerns about a lower yield this year due to intensive heat waves. The government has argued that farmers have not lost out due to the ban as most had already sold their produce this season. In a discussion moderated by Vikas Dhoot, S. Mahendra Dev and Himanshu consider the efficacy of these curbs. Edited excerpts:

* What do the export curbs mean for reining in inflation and addressing India’s food security concerns?

Himanshu: I don’t think the export ban is going to help much with inflation as the procurement season for the wheat crop is more or less over. I don’t think it is going to keep the prices down or help the government to procure and prepare better for food security.

My objection to the ban has not been on the policy of export curbs per se — almost 30 countries have done the same, and countries should have a sovereign right to decide what is the right time to curb exports. My problem is with a kind of ad-hocism or muddled policy-making. And this is not the first time, which makes it more worrying. This has been going on for the last two decades — there is no planning on how to manage the trade policy for agriculture products or even other products. Look at it: on May 12, there was an official press release about sending delegations to nine countries to explore wheat export opportunities. And then on May 13, there was an export ban. That’s not the right way of looking at it. Through April, officials went to the U.S., talked to President Joe Biden, and the Finance and Commerce Ministers were saying, ‘If not for the WTO [World Trade Organization], we will be feeding the entire world’. And then suddenly within a month, the government says, ‘No, no, we don’t have enough for exports.’ This gives a wrong signal to domestic farmers as well as traders. It is certainly not good for food security because whatever damage was supposed to happen has already happened. The government has not been able to procure whatever is required for managing its food security apparatus.

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The Hindu, 10 June, 2022, https://www.thehindu.com/opinion/op-ed/is-the-ban-on-wheat-exports-good-policy/article65511373.ece?homepage=true


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