Indian High Commission explains wheat ban
The High Commission of India in Dhaka has issued a press release today explaining the recent wheat ban by the country.
In the media release, the Indian High Commission clarified that while restrictions have been placed on commercial exports of wheat from India, the instructions do not have any impact on shipments of wheat already contracted for export.
"These instructions will not prevent the export of wheat to India's neighbours and other countries that might wish to procure this produce to supplement their domestic food security policies, at the request of their governments," reads the press release.
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The Indian government banned wheat exports to curb rising domestic prices and address the needs of neighbouring and vulnerable countries.
Bangladesh is the top destination of its wheat exports. India exported 11,57,399 tonnes of wheat worth $299.4 million to Bangladesh in 2020-21 constituting 55.4% in terms of total volume of India's total wheat exports.
The neighbouring country was about to see an uptick in wheat export to Bangladesh following the war between two major global wheat exporters Ukraine-Russia.
However, the export shipments for which irrevocable LCs have been issued on or before the date of this notification will be allowed, India's Directorate General of Foreign Trade (DGFT) said in a notification dated 13 May.
