wheat export ban: India says ban on wheat exports is to examine unregulated commerce

Indian authorities officers, talking simply hours after the nation banned wheat exports, mentioned there was no dramatic fall in wheat output this yr however unregulated exports had led to an increase in native costs.

“We do not need wheat commerce to occur in an unregulated method or hoarding to occur,” a senior authorities official advised reporters in New Delhi on Saturday.

The federal government mentioned it could nonetheless enable exports backed by already issued letters of credit score and to international locations that request provides “to satisfy their meals safety wants”.

International consumers have been banking on provides from the world’s second-biggest wheat producer after exports from the Black Sea area plunged following Russia’s Feb. 24 invasion of Ukraine. Earlier than the ban, India had aimed to ship a report 10 million tonnes this yr.

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