NEW DELHI (Dow Jones) -- An Indian ministerial panel Thursday cleared a food ministry proposal to allow private companies to export 5 million metric tons of wheat in the next three months by sourcing the grain from government stocks, Food Minister K.V. Thomas said.
This is the first time that India is allowing private companies to export wheat from government stocks.
The panel has fixed the minimum price for exports at $320 a ton, government officials and trade executives said.
India has emerged as a big supplier of wheat in the international market over the past few months as it ...