Anil Mittal, chairman and managing director, KRBL expects to approve the proposal of wheat and rice exports to ease foodgrain storage problems.
An Empowered Group of Ministers (EGoM) on food is scheduled to meet today to consider a proposal to export 2 million tonne of rice and 1 million tonne of wheat (Read More).
Anil Mittal, chairman and managing director, KRBL in an interview with CNBC-TV18 said that he expects the government to approve the proposal of wheat and rice exports after the EGoM meeting.
He said that the government will have to approve the exports to ease foodgrain storage problems because they are not able to store the stock that is available with them.
"The government has to take a delivery of more than three- four million tonne from Punjab-Haryana, because of the space shortage, they are unable to take the levy here. The farmers in South India are also suffering a lot because of the space problem," he elaborated.
Below is the verbatim transcript of Mittal's interview with Udayan Mukherjee and Mitali Mukherjee of CNBC-TV18. Also watch the accompanying video.
Q: What do you expect to hear from the EGoM today on the export of rice, what quantity and how much for non-basmati rice?
A: The proposal has gone for 2 million tonne of wheat and 1 million tonne of rice. We are quite confident that by 12oSubscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.