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After wheat, India wants to restrict flour exports

2022-07-07T12:47:35.356Z


Wheat exports were already severely reduced in May to bolster national food reserves. India, the world's second largest wheat producer after China, will impose new restrictions on flour exports to protect its domestic market, the Directorate General of Foreign Trade has said. Wheat exports were already cut sharply in May to bolster national food reserves, following global shortages and soaring prices following the war in Ukraine. The General Directorate of Foreign Trade now stipul


India, the world's second largest wheat producer after China, will impose new restrictions on flour exports to protect its domestic market, the Directorate General of Foreign Trade has said.

Wheat exports were already cut sharply in May to bolster national food reserves, following global shortages and soaring prices following the war in Ukraine.

The General Directorate of Foreign Trade now stipulates that flour exporters will have to obtain prior approval from the government, intended to preserve quality and domestic prices.

"

The disruptions in the global supply of wheat and wheat flour have prompted the arrival of many new players and led to price fluctuations and possible quality problems

", justify the authorities in a notice published on Wednesday, adding: "

It is therefore imperative to maintain the quality of the country's wheat flour exports

.

Read alsoIn India, the Prime Minister bans wheat exports to protect the population from inflation

India banned all wheat grain exports without government approval in May, drawing heavy criticism and fueling a spike in world prices.

Wheat is the number one cereal crop in India.

Last year, the country of nearly 1.4 billion people enjoyed a fairly bumper harvest, producing 109 million tonnes of wheat, of which around seven million tonnes were exported.

This year, a strong heat wave in March and April led to a drop of around 5% in the Indian wheat harvest, raising fears of shortages on the domestic market.

For their part, Russia and Ukraine together account for almost a quarter of the world's wheat supply.

Source: lefigaro

All business articles on 2022-07-07

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