New Delhi, July 14: India's largest state-run food agency, the Food Corporation of India, plans to start wheat and rice exports with more grains available next year after good rains, its managing director said on Monday. "I want to provide one more window to the buyers. With the easing of drought and good rains exports will be a priority," VK Malhotra told Reuters in an interview.
"We are speedily proceeding with the issue of exports, we are hiring a consultant to tell us how to go about it," he said.
FCI, Asia's biggest food procurement and distribution agency, moves about three million tonnes of grains a month to needy states and sells grains for exports to state-run marketing firms and private traders.
It also sets subsidised prices at which the government gives grains to exporters and buys wheat and rice from farmers at administered prices.
Malhotra said FCI's proposal to export had been sent to the food ministry for clearance.
"I see FCI directly exporting grains when our next wheat crop is harvested (in March)," he said. FCI plans to corner large government deals, which offer more certainty in terms of quality and timely payments.
Malhotra said Middle East countries have an annual import demand of 20 million tonnes and FCI would target a portion of it. Bureau Report