The formal notification allowing exports of 5 million tonnes of rice and wheat under the open general licence (OGL) will not specify separate cap for cereals, but the government will monitor exports to ensure a ceiling of 2 mt for wheat and 3 mt for rice. "We have had problems earlier with the courts on specification of quantity ceiling under OGL exports and on specific allocation of export quantities to exporters....
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Ban on onion export, off wheat
-The Telegraph The Centre tonight banned onion exports to check rising retail prices, re-imposing the curbs only six months after it lifted them following a dip. At the same time, it lifted four-year restrictions on overseas sale of wheat and non-basmati rice to ease storage problems following record production last season. “Onion exports have been banned with immediate effect. The ban will be reviewed on a fortnightly basis,” food minister K.V. Thomas said...
More »Food ministry against Wheat exports by Liz Mathew & Ruchira Singh
India’s domestic wheat prices higher than international rates by around $100 per tonne; traders seek subsidy India’s food ministry will oppose a proposal to export wheat as it prefers to distribute the excess to the poor within the country, K.V. Thomas, Union minister of state (independent charge) for consumer affairs, food and public distribution, said on Thursday. “We want the wheat produced by our farmers to be distributed here first,” Thomas said,...
More »Poor economics
The embarrassment of riches in grain stocks confronting the government is a problem of its own making. It is the product of ill-conceived policies on grain procurement, storage and distribution and mistimed decisions on opening and shutting of foodgrain exports. The grain stocks that have piled up as a consequence are far more than needed for any rational inventory and public distribution programme. Burgeoning food stocks pose problems of storage...
More »Food subsidy bill shoots up by a whopping of Rs 34,738 cr by Prabha Jagannathan
The Centre's food subsidy bill, incurred mainly on account of reimbursemnet of economic costs to theFood Corporation of India for grain procurement, holding and transportation, has shot up by a whopping Rs 34,738 crore compared to the budgetary allocation for 2011-12. This is mainly due to government buys of a record foodgrain crop in the 2010-11 agricultural year (july-june).The original subsidy for the year was estimated at Rs 47,239.8 crore....
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