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A Grain Of Truth

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A Grain Of Truth
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The Union food ministry, no thanks to the predictions of a weak and delayed monsoon, has decided to cut subsidies to wheat and rice exporters to check the outflow of grain from the country. According to the ministry, grain stocks have fallen to 32.81 million tonnes from 51.02 million tonnes last April. July onwards, exporters will have to pay an additional Rs 300 per tonne of wheat and Rs 600 per tonne of rice. When the scheme of exporting foodgrains from public stock was first introduced two years ago, rice and wheat was sold to exporters at BPL prices. Last year 25 per cent of the total off-take of 483 lakh tonnes were by exporters. While the central pool still has double the volume of grains kept as buffer, the government doesn’t wish to take chances.

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