Printed on Thu May 19 2022 6:04:48 AM
India bans wheat exports
India has banned exports to reduce the price of wheat in the country's market.
The decision comes as the effect of the global food crisis on the Ukraine war is felt in India as well.
India is the second-largest producer of wheat in the world. Bangladesh is one of the major export destinations of wheat from the country.
In FY 2020-21, India exported 11,57,399 tonnes of wheat worth 299.4 million to Bangladesh. Bangladesh accounts for 55.4% of the country's total wheat exports.
India's Directorate General of Foreign Trade (DGFT) has declared the decision in a statement.
"Wheat exports will be allowed subject to the permission of the Government of India and on the basis of food security requirements of other countries and at the request of their government," the statement said.
The News reports described that the government needs a minimum of 30.5 million tonnes of wheat to distribute subsidized food to about 700 million Indians, according to official figures from India.
Besides, the central government will need wheat for other welfare projects. In this situation, the government has decided not to export wheat.
The effects of the Ukraine war have increased the demand for wheat worldwide. Russia and Ukraine are the two largest wheat exporters in the world. However, many countries have imposed sanctions on Russia. Due to the war in Ukraine, the country is not able to export wheat.
In another notice, the ministry has announced a relaxation of conditions for the export of onion seeds.
Prior, the country had banned the export of onion seeds.
Read More: Terrible fire in Delhi killed at least 27