The Union Government of India on 7 March 2013 approved export of extra five million tonnes of Wheat from its Godowns. The group of ministers in its meeting also decided that the added quantity of 5 million tonnes of wheat shall be exported by the private traders. It also cleared that the public sector trading firms will not be a participant in export of the additional quantity of wheat.
The GoM (Group of Ministers) have also decided that bidding process would be used by the Private traders to export the 2011-12 crop and the floor price decided for per quintal is 1480 rupees.
For the present fiscal, the permitted export of wheat from the godowns of the Food Corporation of India now stands at 9.5 million tonnes.
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