MOSCOW (Pakistan Point News / Sputnik - 08th July, 2022) The Indian government will impose restrictions on the export of wheat flour from July 12 amid global supply crunch, the Indian Ministry of Commerce and Industry said.
"Whereas global supply disruptions in wheat and wheat flour have created many new players and has led to price fluctuations and potential quality related issues. Therefore, it is imperative to maintain the quality of wheat flour exports from India," the ministry said in a statement.
Under the revised policy, "export of wheat flour (atta) is subject to recommendation of Inter Ministerial Committee (IMC) on export of wheat." the ministry added.
On May 14, India imposed a ban on wheat exports due to a rise in global wheat prices, which could potentially hit food security domestically and in the region. Following the decision, the price of wheat in Europe jumped to a record $455 a ton.
At the end of last month, Indian Minister of Commerce and Industry Piyush Goyal said that India was going to allow wheat exports to friendly countries and to those in need, but will not lift the ban for private suppliers, since this will only benefit black market brokers and speculators and will not help vulnerable countries.
Many wheat importing countries, including G7 member states, have asked India to reconsider its decision to ban wheat exports following Western sanctions on one of the biggest food suppliers, Russia, and the disruptions with grain exports from Ukraine.
