India Farm Minister Sharad Pawar said he isn't pushing for grain exports, reversing his previous stand with food inflation remaining high and as the government will require more supplies of rice and wheat for its welfare programs. India's food-grain stocks are at an all-time high of 65.47 million metric tons, about two-and-a-half times the annual requirement for state welfare programs. Still, the government is cautious on exports due to inflation fears and its plan to enact a law that seeks to expand the supply of subsidized grains. "We are not in a position to push for exports as we are waiting for the national food security bill, which is likely to come up in parliament," Mr. Pawar said Tuesday. This is a marked change in Mr. Pawar's stand. As late as last month, he favored exports of rice and wheat, citing surplus stocks and estimates of a bumper harvest this crop year.
2011-07-05
Global News: India Farm Ministry Won't Push for Grain Exports
(News resource: WSJ, July 5, 2011)
India Farm Minister Sharad Pawar said he isn't pushing for grain exports, reversing his previous stand with food inflation remaining high and as the government will require more supplies of rice and wheat for its welfare programs. India's food-grain stocks are at an all-time high of 65.47 million metric tons, about two-and-a-half times the annual requirement for state welfare programs. Still, the government is cautious on exports due to inflation fears and its plan to enact a law that seeks to expand the supply of subsidized grains. "We are not in a position to push for exports as we are waiting for the national food security bill, which is likely to come up in parliament," Mr. Pawar said Tuesday. This is a marked change in Mr. Pawar's stand. As late as last month, he favored exports of rice and wheat, citing surplus stocks and estimates of a bumper harvest this crop year.
India Farm Minister Sharad Pawar said he isn't pushing for grain exports, reversing his previous stand with food inflation remaining high and as the government will require more supplies of rice and wheat for its welfare programs. India's food-grain stocks are at an all-time high of 65.47 million metric tons, about two-and-a-half times the annual requirement for state welfare programs. Still, the government is cautious on exports due to inflation fears and its plan to enact a law that seeks to expand the supply of subsidized grains. "We are not in a position to push for exports as we are waiting for the national food security bill, which is likely to come up in parliament," Mr. Pawar said Tuesday. This is a marked change in Mr. Pawar's stand. As late as last month, he favored exports of rice and wheat, citing surplus stocks and estimates of a bumper harvest this crop year.
