Union govt approves Export of Additional 5 Million Tonnes of Wheat
The Union Government approved export of extra 5 million tonnes of Wheat in its stocks. The additional quantity of 5 million tonnes of wheat shall be exported by the private traders. It was also decided that the public sector trading firms will not be a participant in export of the additional quantity of wheat.
Private traders would use bidding process to export the 2011-12 crop and the floor price decided for per quintal is Rs 1480.
For current fiscal, the allowed export of wheat from the godowns of the Food Corporation of India is at 9.5 million tonnes.