NEW DELHI, Jan 15 (Reuters) - India will review its ban on wheat exports in March, when India is expecting another bumper harvest, Farm Minister Sharad Pawar told reporters on Thursday.
Expectations of a good harvest on top of a bumper crop last year have eased fears of food shortages while inflation has slumped.
Last year, fears of tight supplies and rising price pressures prompted India to clamp down on trade in some commodities.
"Sowing of winter crops is progressing very well. We will definitely reach last year's figure and may even cross," Pawar told reporters.
Asked if the government would lift the export ban, Pawar said: "We will review this in March."
The government is also expected to raise the minimum support price, or the price which official agencies pay farmers for their wheat, by about 8 percent, trade officials say. Last year, farmers were paid 1,000 rupees ($20.4) per 100 kg.
Pawar said the federal cabinet would discuss this next Thursday.
A rise in the minimum support price encourages more farmers to sell grain to official agencies rather than private traders, and helped the government procure a record 22.6 million tonnes last year. (Reporting by Mayank Bhardwaj; Editing by Mark Williams)
Source : Reuters India