New Delhi, June 10: The Centre, in an effort to dispose off surplus stocksof wheat in the central pool, has decided to give commodity loans to SAARCcountries. It will also enter into barter trade with any country in need offoodgrain. The government has also planned to auction five million tonnes ofwheat in Punjab and Haryana.The Union minister for consumer affairs and public distribution, ShantaKumar said these measures were being taken as the wheat stock in the Centralpool was expected to touch 254.17 lakh tonnes on July 1, as against thebuffer stock requirement of 143 lakh tonnes.
By June 9, this year wheat procurement had already touched 158.56 lakhtonnes as against the procurement of 141.11 lakh tonnes in the correspondingperiod the previous year. The total market arrivals of wheat in the mandistill June 9 was 172.06 lakh tonnes as against the market arrivals of 151.15lakh tonnes last year. The total wheat production in the rabi season thisyear is likely to be 70.1 million tonnes which, at 70.1 million tonnes, isalmost the same as that in the previous year. This estimated wheatproduction of 70.1 million tonnes is despite this year's wheat area coveragebeing less than half a million acre. High yielding varieties of wheat haveboosted production.
Wheat procurement in Haryana is 44.04 lakh tonnes as against the marketarrivals of 45.43 lakh tonnes. Wheat procurement in Punjab is 93.23 lakhtonnes as against the market arrivals of 95.66 lakh tonne. Wheat procurementin UP is 13.28 lakh tonnes as against the market arrivals of 15.9 lakhtonnes.
The minister said that the details of the auction would be worked outshortly and the government is expected to offload the targeted five milliontonnes by October 1, before the start of the kharif procurement.
The decision to conduct auctions in Haryana and Punjab has been taken as thestocks were high in these two states, he said, and added that anybodyincluding state governments, could participate in the auction.
Asked if Pakistan would also be entitled for the commodity loan, he said allSAARC nations would be free to avail of the facility that would be workedout in consultation with the external affairs ministry.
Under the commodity loan scheme, India could either receive its payment incash or by barter through other commodities.
He said the cabinet also decided to explore the possibility of entering intobarter trade with any country that was willing to accept wheat in exchangefor any other commodity that India requires, including petroleum products.The details of such an exchange are yet to be worked out.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.