India unlikely to stop exporting wheat anytime soon despite fears of summer drought, as late monsoon rains brighten prospects for crop, government official says
September 10, 2012
(Industry Intelligence Inc.)
– According to Veena Sharma, the director of India's Directorate of Wheat Research, the main government body that oversees cultivation of wheat in the country, India is unlikely to stop exporting wheat anytime soon, The Wall Street Journal reported Sept. 10.
Sharma said that despite fears of a summer drought, late monsoon rains have brightened prospects for wheat farmers and will help sustain exports after the government lifted a ban on shipments in September 2011 to alleviate a storage problem and reduce stocks.
As droughts in the U.S., Russia and Black Sea region countries have caused a rise in wheat prices and limited supplies, India has emerged as a major wheat exporter in global markets since the end of March.
In recent weeks following a slowdown in June and July, rainfall has increased in India’s main wheat growing provinces in the north. The lack of rain earlier this summer shouldn’t be felt on wheat since sowing doesn’t begin until the middle of October.
The primary source of this article is The Wall Street Journal, New York, New York, on Sept. 10, 2012.