March 16, 2025 09:53 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Union minister Aswini Vaishnaw calls Tamil a ‘sweet language’ amid Tamil Nadu’s Hindi imposition row | Bengal's Birbhum witnesses violent clashes over Holi; internet suspended, heavy security deployed | Haryana BJP leader shot dead by neighbour over land dispute, incident caught on camera | Airbag blocked my view, claims 20-year-old law student whose car crashed into vehicles killing 1 in Vadodara | Mark Carney takes oath as new Canada Prime Minister | Man attacks people with iron rod inside Golden Temple in Amritsar, leaves 5 injured | Not disrespectful: Tamilian who designed rupee symbol reacts to Stalin govt's currency move | In a setback for Donald Trump, US judge orders federal agencies to rehire fired workers: Report | 'We will thwart conspiracies hatched by Centre': Revanth Reddy on delimitation exercise | Chennai doctor, his wife along with two sons die by suicide due to huge debt: Cops
Wheat
Pixabay

India bans wheat export with immediate effect

| @indiablooms | May 14, 2022, at 03:56 pm

New Delhi: The Centre on Saturday announced it has decided to ban wheat export with immediate effect in an attempt to control the rise in prices at home.

In its notification amending the wheat export policy, the government said that there is a sudden spike in global prices which has food security of India, neighbouring and other vulnerable countries at risk.

The policy change came a day after the government said it would send trade delegations to Morocco, Tunisia, Indonesia, Philippines, Thailand, Vietnam, Turkey, Algeria and Lebanon for exploring possibilities of boosting wheat exports from India.

While issuing the wheat export ban order on May 13, Directorate General of Foreign Trade (DGFT) however said that as a transitional arrangement export will be allowed where Irrevocable Letter of Credit (ICLC) has already been issued.

"Export will also 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 government," the notification said.

As per DGFT estimates, India exported 7 million tonne (MT) of wheat in 2021-22 which is valued at $ 2.05 billion. Out of the total shipment around 50% of wheat was exported to Bangladesh in the last fiscal. In a press statement on Thursday, the Ministry of Commerce and Industry had said India has set a target of a record 10 million tonnes of wheat in the 2022-23 amid rising global demand for the grain globally.

(With UNI inputs)

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu