Within hours of curbs, domestic traders claim prices are softening

The Centre on Saturday put several measures including strict controls on wheat exports. However, food secretary Sudhanshu Pandey said, “Global demand was rising and different countries were putting restrictions. Sentiments were driving prices. We are confident now the sentiments will push down the prices.”

- Dipak Dash

New Delhi: Within hours of the measures being announced, domestic traders claimed that prices had started softening. Prices dropped by Rs 100-150 a quintal across several states, according to the Roller Flour Millers’ Federation of India. “We are directing the wheat trade in a certain direction. We do not want the wheat to go in an unregulated manner to places where it might get just hoarded or where it may not be used to the purpose which we are hoping it would be used for,” commerce secretary BVR Subrahmanyam said, while explaining the rationale for putting exports under the “prohibited” category.

On Friday, TOI was the first to report about the proposed export curbs following discussions in a ministerial panel headed by home minister Amit Shah.