Original title: To quell price spikes, Indian government bans wheat exports
Indian Prime Minister Narendra Modi’s government has decided to ban all wheat exports from May 13.
According to the “Indian Express” report on May 14, various varieties of wheat including durum wheat and common wheat used to make bread have been transferred from “free export” to “export prohibited” category.
According to the report, data showed that consumer price inflation in India reached 7.79% in April this year, the highest in eight years; retail food inflation soared to 8.38%.
After the ban was promulgated, India only allowed two kinds of wheat export shipments: one, “on the basis that the Indian government allows other countries to meet their food security needs” and “according to the requirements of these countries’ governments”; the second is transitional Exit by arrangement.
According to Reuters, the Indian government’s move is an attempt to calm local prices. India is the second largest wheat producer in the world. In late February this year, after Russia launched a “special military operation” against Ukraine, wheat exports from the Black Sea region fell sharply, and global buyers were pinning their hopes on India’s wheat supplies.
India’s New Delhi Television (NDTV) reported on the 14th that two days before the wheat export ban, the Indian government vigorously promoted the export plan and formed a “180° U-turn” in attitude.
On May 12, the Indian government stated: “The central government will send a trade delegation to Morocco, Tunisia, Indonesia, the Philippines, Thailand, Vietnam, Turkey, Algeria and Lebanon to explore the possibility of promoting Indian wheat exports. India set A record wheat export target of 10 million tonnes has been achieved. Global demand for cereals continues to increase in 2022-23.”
Earlier in May, a Reuters report quoted Indian officials as saying India had no plans to restrict wheat exports.
India also put forward a “vision” to export food to the world earlier. According to the “Hindustan Times” report on the 14th, after meeting with US President Biden in April this year, Modi said: “The world is now facing a new challenge – the world’s food reserves are dwindling. I am talking to the US President, He also raised the issue… India is ready to start supplying food to the world from tomorrow if the WTO allows it.”
[原标题]Indian government bans wheat exports to quell price spikes
Source | The Paper
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