EGoM likely to meet soon on wheat, sugar exports

NEW DELHI: The Empowered Group of Ministers is likely to meet soon to consider a proposal from the Agriculture Ministry to allow wheat exports in the wake of bumper production.

"The EGoM is expected to meet in a week or 10 days," Minister of State for Commerce and Industry Jyotiraditya Scindia said here today.

The ministers panel is headed Finance Minister Pranab Mukherjee and comprises Agriculture Minister Sharad Pawar, Commerce and Industry Minister Anand Sharma and Food Minister K V Thomas.

The EGoM is also likely to take a call on easing the restrictions on sugar exports as well.

While the Agriculture Ministry is pushing for lifting the export ban and restrictions on wheat, the commerce and finance ministries are being cautious in view of high food inflation. Food inflation was hovering at 7.70 per cent for the week ended April 30.

"We have enough stocks and we can easily export two million tonnes of wheat and rice," Pawar had said.

India's wheat production is estimated to touch an all-time high of 84.27 million tonnes in the 2010-11 crop year. Sugar production is estimated at about 25 million tonnes during the 2010-11 sugar season.

The government had banned wheat exports in early 2007 to boost domestic availability and control inflation.