Record of India’s wheat crop will pave way for easing of export curbs

India is all set to harvest a record wheat crop in the ongoing season, as favourable weather and heat-resistant seeds are expected to boost yields, which would help the country in lifting its restrictions on exports.

The Head of the Indian Institute of Wheat and Barley Research, Mr. Gyanendra Singh asserted that the output may increase by almost 5% from the previous year to 112 million tonnes in the current year ending in June. The production outlook is brighter this season as the planting area has expanded and many farmers have sown new varieties that can resist higher temperatures and the weather also has been favourable so far.

Wheat is planted in October and accounts for about 65% of India’s winter-sown food grains. According to the farm ministry, wheat has been sown on 82 million acres of land across India this season, which registers an increase of 0.7% from a year earlier.

An abundance of harvest might allow the government to lift the restrictions on exports and would then help in cooling of the domestic prices that have soared due to weak production last season.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.