Government alerts about food inflation, restrictions on export of wheat, onion, sugar will continue

At 5.69 per cent, the retail inflation rate for December hit its highest point in the previous four months. In December of last year, the retail inflation rate of food products was 4.19 per cent, while at the same time, the rate of inflation for food items jumped to 9.53 per cent.

Goyal stated that although the import of sugar is unquestionable, the export of sugar will remain prohibited. He promised to evaluate the issue of rising domestic rice prices shortly, even with the export of regular rice prohibited.

Although the export of basmati rice is not restricted, it is nonetheless impacted by the disturbances in the Red Sea. Still, the price of rice is not decreasing at the domestic level.

He said that there is a possibility of record production of wheat this year and if the domestic wheat stock becomes much more than the requirement, then lifting the ban on wheat export can be considered.

Goyal said that despite the ban on food items, at the request of neighbouring and developing countries, India is continuously supplying wheat and other grains to them. These include many countries like Indonesia, Bhutan, and Afghanistan.