India, the second largest producer of wheat, has banned the export of this commodity due to risks to its food security.
A notice in the Government Gazette signed by Santosh Kumar Sarangi, Director General of Foreign Trade, said the “sudden rise” in world wheat prices puts India, neighboring countries and other vulnerable countries at risk.
Export of wheat will be permitted in case of shipments for which an irrevocable Letter of Credit (ICLC) has been issued on or before the date of the notification and “on the basis of the permission granted by the Government of India to the other countries to meet their needs.” food security needs and at the request of their governments.”
“The export policy of wheat against HS codes mentioned above is ‘prohibited’ with immediate effect except for shipments which meet the conditions mentioned in[Paragraph 2 above and which will be permitted pursuant to the procedure described in Paragraph 105(b) of the Foreign Trade Policy, 2015-2020,” the Director wrote[paragraph2abovewhichwillbeallowedaspertheprocedureoutlinedin2015baradewrotePara10][الفقرة2أعلاهوالتيسيسمحبهاوفقًاللإجراءالموضحفيالفقرة105(ب)منالتجارةالخارجيةالسياسة،2015-2020″،كتبالمدير[paragraph2abovewhichwillbeallowedaspertheprocedureoutlinedinPara105(b)oftheForeignTradePolicy2015-2020″thedirectorwrote
Although it is the world The second largest producer Of the wheat, India consumes most of the wheat it produces.
The nation had set a target of exporting 10 million tons from 2022 to 2023, much of which was to go to other developing countries such as Indonesia, the Philippines and Thailand.
Other countries are also grappling with poor harvests hampering their ability to help make up for shortfalls caused by the Russian war in Ukraine.
Before the invasion, Ukraine and Russia accounted for a third of world wheat and barley exports.
Global wheat prices have risen more than 40% since the beginning of the year.
The Associated Press contributed to this report.
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