Government slapped complete ban on exports of commodities till December

NEW DELHI, 26 June: On Tuesday India has floated a fresh international tender for import of a million tons of wheat to meet its PDS requirements. Even the prices have been rising in the world market. The delivery will be received in the month of August for that the State Trading Corporation will be inviting bids from the international suppliers. "We are in no hurry for the deliveries since we have enough

quantity of wheat. But we have asked for supplies in August-September," a senior Food Ministry official told media.
On May 30 government had scrapped its earlier tender of one million tons mentioning high prices.
On the other hand, global prices have gone up to $228 per tonne. Where as in May its prices were $188 per tonne.
"For all the tom-tom being made about not buying wheat at the May price, we had received bids for only 300,000 tons," the ministry official said. Besides, the government was busy with domestic procurement, he said.
About the rising prices, he asked, "What can we do, nobody can predict about these things".
India needs 15 million tons of Wheat; the Food Corporation of India has so far obtained 11 million tons, yet it has to obtain four million tons.

To remove bang of the inflation, the government has decided to import five million tons of wheat this year at zero duty. Government has also slapped a complete ban on exports of the commodities till December.

By Saniya Mehra