Government’s big decision amid rising wheat prices, conditional ban on exports

India bans exports of Wheat: The Modi government at the Center has imposed a conditional ban on the export of wheat. The government has taken this decision in view of the rising price of wheat in the domestic market. However, wheat exports will continue with certain conditions. This decision of the government will not apply to already contracted exports. Its notification has also been issued by the government. The notification said that the food security of India, neighboring countries and other vulnerable countries is at risk.

The government said the move was done to “manage the country’s overall food security and support the needs of neighboring and other vulnerable countries”. The notification further stated that the Government of India is committed to providing for the food security needs of neighboring and other vulnerable developing countries, which are adversely affected by sudden changes in the global wheat market and are unable to access adequate wheat supplies. .

The government said there has been a sudden increase in the global prices of many wheat, as a result of which the food security of India, neighboring and other vulnerable countries is at risk. Due to the ongoing war between Russia and Ukraine, the international price of wheat has increased by about 40 percent. Due to this its export from India has increased. Due to increase in demand, there has been a huge increase in the price of wheat and flour at the local level.

The minimum support price for wheat procurement is Rs 2,015 per quintal. Retail inflation of wheat and flour in the country increased to 9.59% in April from 7.77% in March. This year the government procurement of wheat has come down by about 55% as the price of wheat in the open market is much higher than the MSP.

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