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India bans wheat exports two days after setting massive target

The move The wheat export ban comes after heavy harvests were lost due to the heat wave in Walks

New Delhi:

India banned wheat exports with Live effect as part of that it steps to control spike in Prices in home.

Export shipments only for which letters of Credit issued on or before yesterday’s notice is permitted, the government She said.

besides government will allow exports on Requests from other countriesNotification from DG of Foreign Trade (DGFT) said.

The notification said that government have taken decision “in For the management of public food security of country and support needs of Neighboring and other weak countries”.

Global buyers were dealing with banks on India – world’s second The largest producer of wheat after China – for Supplies after exports from the Black Sea region decreased since Russia invasion of Ukraine in late February.

The move The wheat export ban comes after heavy harvests were lost due to the heat wave in Walks. The government he is also Under pressure to rein in in Inflation rose to 7.79 percent in April.

Moreover , move It is a turn after two days of government announced that it plans for a big Export payment.
The center will send trade Delegations to Morocco, Tunisia, Indonesia, Philippines, Thailand, Vietnam, Turkey, Algeria and Lebanon for Explore the possibilities of Increased wheat exports from India. India has set Goal of a record 10 million tons of wheat in 2022-23 Medium rising global demand for Grains globally, “a government Thursday’s statement said.

Earlier this month, a Reuters report quoted a senior official official of Ministry of Consumer Affairs, Food and General Distribution said India was not looking to rein in wheat exports.

“nothing move To reduce wheat exports, the country has sufficient stocks of wheat,” Food Minister Sudhanshu Pandey said at the time.

Prime Minister Narendra Modi, during his recent visit to Germany, told the Indian diaspora at event that farmers of country ‘ascended forward to feed world”middle ” global loss of wheat. “whenever humanity he is faced with Crisis, India comes up with He said.

Asked about the sudden change in plan, government Sources said China is withdrawing food grains from India after crop losses have led to food security concerns there.

After five consecutive years of record Crops, India cut wheat production forecast to 105 million tons from February estimate of 111.3 tons after the heat wave hit Agricultural crops.

In a separate notice, DGFT announced mitigation of export terms for Onion seeds. “Export policy of Onion seeds have been placed under the prohibited category, with Direct fact said “Export of Earlier onion seeds were banned.


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Sallie Anderson
Sallie Anderson
Sallie works as the Writer at World Weekly News. She likes to write about the latest trends going on in our world and share it with our readers.

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