India bans wheat exports

Effect of the war between Ukraine-Russia, tremendous rise in wheat price in the world

New Delhi – Looking to the high rising wheat prices, the Government has banned wheat exports. A notification from the Government states that this step has been taken to secure food in the country.  Wheat has been moved from “free” to the “prohibited” category. At the same time, it was necessary to help the neighbouring and poor countries. Hence, the export to the needy countries will continue.
The wheat price has increased by 40% all over the world due to the war between Ukraine-Russia. Hence, the exports of India have increased. Due to high demand, the prices of wheat and wheat flour have increased tremendously. In many States, the Government procurement process is very slow because the farmers are getting a better price in the market than the Minimum Subsidy Price (MSP). This decision is being taken as there is a possibility of a reduction in production.

India Bans Most Wheat Exports, Adding to Fears of Global Food Insecurity https://t.co/yVTHEFFwQk

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India stands 2nd in wheat production in the world. Merchants opine that this year the wheat production might be 950 crore tons compared with the Government’s estimate of 1005 crore tons. The wheat price in Kandala Port is Rs. 2,550 per quintal. Fearing Government might stop exporting, exporters had begun exporting wheat hurriedly.