Traders need to obtain permission before exporting wheat flour and related products to India, Reuters reported, citing a notice published by the government. In May, India imposed restrictions on wheat exports amid a fall in production due to scorching heat and rising domestic prices. After the ban, there was a spurt in demand for wheat flour from neighboring countries struggling to secure wheat at lower prices from other suppliers.
The government restricted the export of wheat flour and other related products such as maida, rava (samolin), whole grain flour and resultant flour. All exporters will be required to obtain prior permission from an Inter-Ministerial Wheat Export Committee prior to any shipment. According to the notification issued by the Directorate General of Foreign Trade on July 6, the restrictions will start from July 12.
Russia’s invasion of Ukraine on 24 February and the subsequent lockdown raised wheat prices around the world and raised serious concerns about food shortages, especially in the poorest countries that are scarce for the commodity in the Black Sea countries. are dependent on. Russia and Ukraine account for about 30% of the world’s wheat supply.
India had hoped for a bumper wheat harvest until unusually high temperatures hit yield forecasts and dashed hopes of higher exports to meet world demand. Unlike wheat, India has not completely banned the export of wheat flour and related products. Wheat flour prices have remained stable since the ban on export of wheat began on May 13.