Poornima Varma is an assistant professor with the Indian Institute of Management Ahmedabad's Centre for Management in Agriculture. India, the world's largest…
With the vote less than a year away, Modi’s government is going all out to build up its food stockpiles. Officials say inventories are adequate and have sought to discourage hoarding, but India has still banned rice exports and is preparing to import wheat, despite being the world’s second-largest producer.
(Bloomberg) Last year, Prime Minister Narendra Modi said India could feed the world. This year, the world’s top rice exporter is instead curbing grain sales, rushing to ease rising food inflation at home as next year’s general election approaches.Most Read from BloombergEveryone Wants to Work at UPS After Teamsters DealWeWork Tumbles After Raising ‘Substantial Doubt’ About FutureUS Bank Shares Drop as Moody’s Cuts Ratings, Warns on RisksWall Street WhatsApp, Texting Fines Exceed $2.5 BillionT
India has been forced to curb grain sales and is preparing to import wheat to ease food inflation ahead of next year s general elections. Rice exports have been banned and the government is curbing sales of other grains, adding to the global supply squeeze. The government may scrap a 40 per cent tariff on wheat, which would pave the way for India to import substantial volumes for the first time since 2017.