India bans wheat export with immediate effect
Export of all wheat, including high-protein durum and normal soft bread varieties, have been moved from “free” to the “prohibited” category.
Insight Bureau: Central government has banned export of all wheat from the country with immediate effect from May 13. Export of all wheat, including high-protein durum and normal soft bread varieties, have been moved from “free” to the “prohibited” category.
Government took this step a day after its data showed a hike in annual Consumer Price Inflation and retail food inflation.
Consumer price Inflation hit a near eight-year-high of 7.79 per cent in April, and retail food inflation surged even higher to 8.38 per cent, the data showed.
However, only two kinds of shipments will be henceforth allowed. The first is “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”. The second is exports under transitional arrangements, “where irrevocable letter of credit has been issued on or before the date of this notification, subject to submission of documentary evidence as prescribed,” a department of commerce notification said.