Here are the top BS Opinion articles of the day
Wheat export ban should have been avoided
Traders say market is still biased towards demand; while this could come as some relief to the farmers, a major price spike in the months ahead seems unlikely
Till May 14, some 18 million tonnes of wheat have been bought for Central pool; that's 51% lower than the procurement during the same period last year
India's decision to halt wheat exports came as a record-breaking heat wave parched the crop during a crucial period, spurring estimates of slumping yields.
India banned wheat exports on Saturday days after saying it was targeting record shipments this year, as a scorching heat wave curtailed output and domestic prices hit a record high
Hours after it imposed a ban on wheat export, the government on Saturday said it has adequate food stocks, there is no threat to food security
In a relief to wheat growers, the Centre has relaxed procurement norms for shrivelled wheat grains in Punjab and Haryana after the crop suffered damage due to the early onset of heatwave. Punjab Chief Minister Bhagwant Mann last month had urged the Centre to relax norms for shrivelled grains in the purchase of wheat from the state without imposing any value cut. The Centre relaxed norms up to 18 per cent against the existing limit of 6 per cent without any value cut. Chief Minister Mann thanked Prime Minister Narendra Modi for accepting his request for relaxation in shrivelled wheat grains. "I, on behalf of farmers of Punjab, thank Hon'ble Prime Minister @NarendraModi ji, for accepting our request & allowing a generous relaxation in procurement of shrivelled grains. I assure you that Punjab shall continue to work in earnest to contribute to food security of the nation," said Mann in a tweet. In a letter to the secretary, food and civil supplies, Punjab and additional chief ...
No order is in perpetuity, wheat export ban be reviewed, says commerce secretary B V R Subrahmanyam
The likely fall in wheat output in India and even in the government's procurement is unlikely to affect the public distribution system (PDS), he said and asserted, "PDS will be run smoothly."
'There is no dramatic fall in production. I do not think there is a crisis which needs to be imagined. There is adequate food available in government stocks and private stocks,' says commerce secy
The government said it would still allow exports backed by already issued letters of credit and to countries that request supplies 'to meet their food security needs'
The government's decision to ban wheat exports will help in crushing attempts by certain foreign players to hoard Indian wheat for price manipulation in global markets, according to sources.
According to an official notification, India has banned wheat exports with immediate effect as part of measures to control rising domestic prices
Business Standard brings you the top headlines at this hour.
Exporters' mandatory registration on cards; PMO to decide on export ban
If the Chinese harvest is bad in the coming weeks, it could drive food prices up further, compounding hunger and poverty in the world's poorest countries
According to official estimates, India exported 7 million tonne of wheat in 2021-22, valued at $2.05 billion
The country has enough wheat in stocks and it is monitoring supplies, the government assures mill owners.
Droughts, flooding and heatwaves threaten output from the US to France and India, compounding shrinking production in Ukraine