eThe central government has set up a panel of senior ministers to consider allowing additional export of wheat from the country.

Food Minister KV Thomas said on Thursday that a separate panel of senior ministers has been formed and it will look into the matter soon. Government officials have said that the panel of ministers will meet on Thursday to discuss the matter. The panel will include Food Minister K. V. Thomas, Finance Minister Palaniappan Chidambaram and Agriculture Minister Sharad Pawar.

According to estimates, if the panel agrees to allow additional export of 5 million tonnes of wheat it would more than double the shipments. The government estimates that the farmers are expected to produce 92.3 million tonnes, which is higher than about 76 million tonnes of domestic demand.

This will be sixth straight year of higher output than demand in the country. India is the second biggest wheat grower in the world and additional exports are allowed, the government will be able to clear old stock to make room for fresh record harvest that will come in April.

Meanwhile, the total sales form India may reach 10 million tons in the year till1 April, 2013, according to the National Centre for Agricultural Economics and Policy Research based in New Delhi.