CCEA likely to decide on add'l 5MT wheat export tomorrow:Pawar

New Delhi, Mar 6. Anticipating storage problems ahead of wheat procurement season, the government is likely to take a decision tomorrow on allowing additional export of 5 million tonnes of wheat from its godowns to clear surplus stock. The government had over 30 million tonnes (MT) of wheat stock in godowns of the Food Corporation of India (FCI) at the begining of last month, as against the actual requirement of 7 MT at the end of this month. "Tomorrow, there is one issue before the Cabinet Committee on Economic Affairs (CCEA). The proposal on export of wheat from the government stocks has come from the Food Ministry. Let's see, what happens," Agriculture Minister Sharad Pawar told reporters on the sidelines of an event here today. Stating that the government has "too much stocks", Pawar said that the Food Ministry would face severe storage problem as wheat crop is expected to be good. Asked if the export of government-held stocks should be freely allowed, the Minister said: "We are in March, we are going for kharif sowing season. We have to wait and see how would be the monsoon situation. In such a big country, we have to take cautious decision." The CCEA proposal on allowing additional 5 MT of wheat export is aimed at creating enough space for new wheat crop, which will be procured from this month-end. The proposal is also to permit recognised private traders to export the government-held wheat stocks along with state- run trading agencies such as MMTC, STC, PEC Ltd, sources said. So far, the government has allowed export of 4.5 MT through public sector trading agencies. Of this, about 2 MT has already been shipped in a price range of USD 295-330 a tonne. The floor price will be determined by the inter- ministerial panel, headed by Commerce Secretary S R Rao. Sources said that additional exports would ease storage pressure in Punjab, Haryana and Madhya Pradesh. The wheat stock has piled up in the government godowns due to record procurement following bumper crop in the last two years. The government is aiming to procure a record 44 MT in the 2013-14 marketing year starting April. Wheat production touched all-time high of 94.88 MT in 2011-12. Production is estimated to be 92.30 MT this year.