Wheat export push under cloud as procurement drops by over 35% till Apr 24

Production too is estimated to be lower than the earlier projection of 111 million tonnes

India may have to reconsider its decision to push wheat exports in a big way once the threshold of 6-7 million tonnes is breached, trade sources said.

This is needed to prevent a sharp escalation in flour prices, triggered by a drop in procurement and estimates of lower-than-expected production, they added.

According to official channels, wheat procurement in the 2022-23 marketing year is estimated to be around 13.69 million tonnes till April 24, a sharp 35 per cent drop from the same period last year.

Wheat arrival in mandis is also almost 20 per cent less than last year. (see chart).

These revised export