date:Mar 11, 2013
An Indian ministerial panel Thursday cleared a proposal to allow private companies to export 5.0 million metric tons of wheat by sourcing the grain from government stocks, Food Minister K.V. Thomas said.
This is the first time that India is allowing private companies to export wheat from government stocks.
The exports will need to be completed in the next three months, Mr. Thomas said.
As India is a big supplier of wheat in the international market, a rise in exports may weigh on global price