India to decide on wheat exports next week: Food minister

A panel of ministers will decide next week whether to allow export of wheat, Food Minister KV Thomas said on Tuesday.

India, the world's second-biggest wheat producer, is expected to harvest a record 82.3 million tonnes in 2011, up from 80.8 million tonnes a year earlier. It consumes around 76 million tonnes of wheat annually.

Last week, Farm Minister Sharad Pawar said India, sitting on huge wheat stocks, should allow exports of the grain.

But with food inflation persistently high in Asia's third-largest economy, its food ministry is reported to be against lifting a ban on wheat exports, contrary to the farm ministry's view, as it could affect local prices.

(Source: http://www.moneycontrol.com/news/economy/india-to-decidewheat-exports-next-week-food-minister_538330.html)