Overall food grains production was estimated to be 314.51 million tonnes, more than the 310.74 million tonnes last year.
New Delhi banned wheat exports on Saturday, as an intense heat wave hit output and domestic prices hit a record high
Open markets must not become an argument to perpetuate inequity and promote discrimination: Minister of State for External Affairs V Muraleedharan
The world had been counting on Indian grain after the war in Ukraine, drought in Argentina and floods in Australia cut production from those countries
Announcement comes days after DGFT banned all wheat exports to bolster falling stocks and manage food security; govt also allows wheat already being loaded at Kandla to head to Egypt
The ban on wheat exports is only "marginally positive" for the domestic inflation outlook, a British brokerage said on Tuesday.
From the Deendayal Port in Kutch district, wheat is primarily transported to African countries, Bangladesh, South Korea and Yemen.
The US hopes India will reconsider its decision to ban wheat exports, with Washington encouraging countries not to restrict exports.
Only exports backed by letters of credit (LCs), or payment guarantees, issued before May 13 can proceed before the ban takes effect, India has said
The price, which was already high in the wake of Russia's invasion of major wheat exporter Ukraine, jumped to €435 ($453) per tonne as the European market opened
India's ban on wheat exports has delivered a fresh blow to world markets already reeling from tight supplies due to output issues in traditional export powerhouses
Benchmark futures in Chicago rose as much as 5.9% to $12.475 a bushel, the highest in two months and within about $1 of the all-time high set just after Russia's invasion
Farmers' unions in Punjab on Monday dubbed the Centre's decision of banning wheat exports as an "anti-farmer" move, saying that the Union government is not letting them reap the gains
Here are the top BS Opinion articles of the day
Wheat export ban should have been avoided
Traders say market is still biased towards demand; while this could come as some relief to the farmers, a major price spike in the months ahead seems unlikely
Till May 14, some 18 million tonnes of wheat have been bought for Central pool; that's 51% lower than the procurement during the same period last year
India's decision to halt wheat exports came as a record-breaking heat wave parched the crop during a crucial period, spurring estimates of slumping yields.
India banned wheat exports on Saturday days after saying it was targeting record shipments this year, as a scorching heat wave curtailed output and domestic prices hit a record high
Hours after it imposed a ban on wheat export, the government on Saturday said it has adequate food stocks, there is no threat to food security