India, the second-largest producer of wheat in the world, has no intention of importing the grain, and its farmers are expected to harvest a bumper crop that would increase stocks, the trade minister announced on Saturday. According to reports from the field, the crop is doing fairly well, and Piyush Goyal assured reporters that a record-breaking 114 million metric tons would be produced this year. Following a hot wave that reduced output, India banned wheat exports in 2022. However, more recently, as a result of Russia’s invasion of Ukraine, wheat prices surged to multi-year highs worldwide. Since June 1, when the government-owned Food Corporation of India began selling the grain from its warehouses, the state has sold about 6 million metric tons of wheat to regional bulk purchasers. A senior government official stated earlier this month that even though the state is selling wheat from its granaries, inventories at state warehouses are probably going to stay above the 7.46 million metric tons target set for April 1, the start of a new marketing year. As of January 1, the nation’s wheat stocks at state warehouses were 16.47 million metric tons, the lowest amount since 2017. Goyal stated that India would maintain its export restrictions on sugar, wheat, and rice for the time being.