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India Said to Plan 4 Million-Ton Wheat Exports From Stockpiles

May 17 (Bloomberg) -- India plans to export 4 million metric tons of wheat from government stockpiles to make room for a record harvest, according to two government officials with direct knowledge of the matter.

The state will also sell 14 million tons of grains for food domestically and at below market prices, the officials said, declining to be identified by name because the plan hasn’t been publicly announced. Food Ministry spokesman N.C. Joshi declined to comment on the matter.

India is selling grains from stockpiles to empty warehouses before record rice and wheat crops arrive, Food Minister K.V. Thomas said May 10. State reserves of rice and wheat jumped 20 percent to 71.12 million tons by May 1, according to the state-run Food Corp. of India.

Wheat production will probably reach a record 90.2 million tons in the year ending next month, the farm ministry estimates.

To contact the reporters on this story: Prabhudatta Mishra in New Delhi at pmishra8@bloomberg.net; Pratik Parija in New Delhi at pparija@bloomberg.net

To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net

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