India announces some relaxation on wheat exports

INTERNATIONAL DESK: India has eased the wheat export ban by allowing the consignments already with customs on or before May 13 to go through.

“It has been decided that wherever wheat consignments have been handed over to Customs for examination and have been registered into their systems on or prior to May 13, such consignments would be allowed to be exported,” the commerce ministry said in a statement.

A wheat consignment headed for Egypt has also been allowed to proceed. It is under loading at the Kandla port and the Egyptian government had requested to permit it.

The central government had announced on May 13 to limit wheat exports in order to contain rising wheat prices and manage food security in India.

The ban would not apply in cases where prior commitments were already made by issuing letter of credit.

Wheat prices have been rising internationally on account of supply shortages due to Russia-Ukraine war.

Government’s sudden ban on wheat exports had come under severe international condemnation.

(The Economic Times)