Indian wheat in exchange for Indonesian palm oil? Modi govt mulls strategy

The Indian government is mulling a quid pro quo with Indonesian government to contain inflation back home. The Indian government has sought Indonesian palm oil imports in exchange for wheat export to meet rising food grain demand in Indonesia and to bring down the cooking oil prices in India. People familiar with the matter told Hindustan Times that India may permit export of wheat to meet Indonesia’s food grain demand through an arrangement where the Southeast Asian nation supplies palm oil without any interruption at a competitive rate to address India’s concerns over shortage of edible oil, one of the key factors powering inflation. The ministries of food and commerce are yet to respond to the development. Watch this video for more details.