As Prices Skyrocket, India Bans Wheat Exports

New Delhi: The Government of India (GoI) has banned export of wheat with immediate effect in view of the sudden spike in global prices.

According to a notification issued by Director General of Foreign Trade Santosh Kumar Sarangi, wheat has been put under the “prohibited” category.

The notification stated that the step was taken to manage overall food security in India and to support neighbouring vulnerable countries.

Exceptions will be made if the GoI grants needs-based special permission to other governments on request. Also, all export deals agreed before the directive was issued could still be honoured.

Wheat prices have gone up substantially after Russia’s decision to attack Ukraine, more so as the two countries are the biggest producers of the commodity.

A few days ago, the Ministry of the Trade & Commerce had recently stated that India will send a trade delegation to nine countries to boost wheat exports. It further said that India has set a record target of 10 million tonnes of wheat export in 2022-23.