Quote on Wheat Export Ban By Dr. V K Vijayakumar, Geojit Financial
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Below is quote on Wheat Export Ban By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The Government's goal of exporting 10 millions of wheat in FY 23 capitalizing on the sharp increase in global prices was well conceived. But the unexpected severe heat wave in March impacted production, triggering sharp spikes in spot prices of wheat. Since inflation at 7.79% ( April) and food inflation at 8.38% are emerging as major worries, priority should be to control domestic price of wheat rather than target export earnings. This can be problematic for long-term exports which need stability in policy. However, the present priority should be to control domestic prices by ensuring adequate availability"
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