India, the world’s second-largest wheat producer, has partially banned wheat exports.
India announced last week that it would send trade delegations to countries such as Morocco, Tunisia, Indonesia and the Philippines to explore ways to further increase shipments, setting a record export target for the 2022-2023 financial year, which begins on April 1.
The Ukraine-Russia crisis and the sweltering heat wave hit crops and reduced production, pushing domestic prices to an all-time high. In response, the New Delhi government decided to partially ban wheat exports.
The government has announced that it will continue to allow shipments of wheat with letters of credit already issued to countries that demand products ‘to ensure food security’.
