India bans wheat exports as heat wave hinders production, prices rise

India instantly banned wheat exports, days after it stated it was focusing on file shipments this 12 months, as a scorching heatwave curtailed manufacturing and native costs hit all-time highs amid robust export demand.

In a press release printed by the International Commerce Directorate within the authorities newspaper, it was acknowledged that the rise in international wheat costs, partly as a result of battle in Ukraine, threatens the meals safety of India and neighboring and weak international locations.

The federal government stated it will nonetheless permit exports of letters of credit score already issued and upon request from international locations making an attempt to “meet meals security wants”.

Earlier than the ban, India was aiming to ship a file 10 million tons this 12 months.

International patrons relied on the world’s second-largest wheat producer for provides after exports from the Black Sea area fell after Russia’s invasion of Ukraine.

Earlier than the battle, Ukraine and Russia accounted for a 3rd of world wheat and barley exports.


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