India banned the export of wheat with immediate effect, the government’s big decision to control the price. India Wheat Exports Banned | India Banned Wheat Exports To Control Rising Domestic Prices
By Amit - May 14, 2022
New Delhi6 minutes ago
In view of the rising prices of wheat, India has banned its export (export). This decision has been implemented with immediate effect. According to the official notification, India has banned the export of wheat with immediate effect as a measure to control rising domestic prices.
However, it also states that export will be allowed by the Government of India for the food requirement of any other country. Apart from this, those wheat can be exported whose ICLC is in progress, or is ready for shipment.
Flour crossed Rs 33 per kg
Due to wheat becoming more expensive, flour is becoming costlier in the retail market. The average price of flour in the retail market has reached around Rs 33.14 per kg. In the last one year, flour has become costlier by about 13%. Whereas on May 13 last year, flour was being available at Rs 29.40 per kg.
Wheat production expected to decline
Wheat prices are expected to rise further in the coming days. Wheat production is expected to decline in the 2021-22 rabi season. The government itself has reduced the production estimate. With the onset of summer season early this year, the government has reduced the production estimate to 105 million tonnes (105 million tonnes) from 111.32 million tonnes.
India is exporting wheat to 69 countries
Prior to this ban, Commerce Minister Piyush Goyal had said that wheat exports may cross 100 to 125 lakh tonnes in the current financial year. This time Egypt has a new name in the wheat buyer countries. India is currently exporting wheat to 69 countries. In the financial year 2021-22, India exported 78.5 lakh tonnes of wheat to 69 countries.