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Wheat Exports Banned With Immediate Effect To Control Rising Prices

India bans wheat exports with fast impact

New Delhi:

India has banned wheat exports with fast impact as a part of measures to manage rising home costs, in keeping with official notification.

Nonetheless, the export shipments for which irrevocable letters of credit score (LoC) have been issued on or earlier than the date of this notification can be allowed, the Directorate Basic of International Commerce (DGFT) mentioned in a notification dated Might 13.

“The export coverage of wheat … is prohibited with fast impact…,” the DGFT mentioned.

It additionally clarified that wheat exports can be allowed on the idea of permission granted by the Authorities of India to different nations to fulfill their meals safety wants and based mostly on the request of their governments.

In a separate notification, the DGFT introduced the easing of export circumstances for onion seeds.

“The export coverage of onion seeds has been put underneath the restricted class, with fast reality,” it mentioned.

The export of onion seeds was earlier prohibited.

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