India bans wheat exports with immediate effect to control rising prices
New Delhi, May 14: In a bid to control the rising domestic prices, India has prohibited wheat exports with immediate effect, the government informed on late Friday.
According to a notification issued by the government, shipments of wheat are allowed for letters of credit that have already been issued, the government said.
"The export policy of wheat … is prohibited with immediate effect…," the Directorate General of Foreign Trade (DGFT) said in a notification dated May 13.
Also Read | 27 die in massive fire near Mundka metro station, 2 arrested so far
It further added that wheat exports will be allowed on the basis of permission granted by the Government of India to other countries to meet their food security needs and based on the request of their governments.
"There is a sudden spike in the global prices of wheat arising out of many factors, as a result of which the food security of India, neighbouring and other vulnerable countries is at risk," said the Ministry.
Previously, the export of onion seeds was prohibited.
After shipments from the Black Sea region plummeted following Russia's invasion of Ukraine in late February, global consumers were counting on India for wheat supplies.
Also Read | India makes historic entry into final of Thomas Cup 2022, Twitter celebrates
-PTC News
