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India bans wheat export in view of rising prices in domestic market with immediate effect

Punjab Tribune Bureau | May 14, 2022 11:03 AM

NEW DELHI: India has imposed a ban on wheat export with immediate effect. According to the official notification, India has taken decision in view of the rising prices of wheat in the domestic market.

A notification has also been issued by the government.

According to the govt notification, the food security of India, neighboring countries and other needy countries is at risk.

The government said the move was taken "to manage the country's overall food security and to support the needs of neighboring and other needy countries".

 

However, the order will not apply to already contracted exports. While, on the permission of the Government of India, exports will continue with certain conditions.

Earlier on May 12, a meeting of government officials was held in which a decision was taken on the export of wheat.

It was told in meeting that India has set a target of record 10 million tonnes of wheat in the financial year 2022-23 amid increasing demand for food grains globally.

As the demand for Indian wheat continues to increase in the global market, farmers, traders and exporters have been advised to follow all the quality parameters of the importing countries.

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