This development comes after huge global food crises are triggered across nations by the Ukraine war, which is set to enter its 12th week.
India temporarily banned wheat exports in an apparent attempt to reduce local price rises. In a worrying development, India, the second-largest wheat producer in the world, saw wheat prices rise to a record high in April.
This government statement is coming as the Ukraine war, which began in February, enters its 12th week. The supply from the Black Sea has been severely restricted for countries affected by the conflict. The United Nations has repeatedly raised concerns about a possible food shortage.
In a Friday night notification, the Directorate General of Foreign Trade said that “the export policy of wheat… has been prohibited with immediate effect …,”.”
Exports of wheat will be permitted if permission is granted by the government to other nations to meet their food security requirements on the basis of their requests. The export will be permitted if a letter of credit issued is irrevocable before the notification date. The statement states that export will be permitted on the basis of permission granted to India by other countries to meet their food security requirements and on the request of the governments.
According to news agency PTI, “The export policy for onion seeds has been placed under the restricted category with immediate effect.”
India was willing to assist other countries in the Ukraine conflict. After speaking with Joe Biden, the Prime Minister of India, Narendra Modi, said that “The world is in an uncertain position today as no one is getting what they want.” As all the doors close, it is becoming increasingly difficult to obtain petrol, oil, and fertilizers. Everyone wanted to protect their stocks after the (Russia-Ukraine war) began.
The world faces a new challenge right now: the food supply is shrinking. “I was talking to the US President, and he raised the issue. If the WTO grants permission, India will supply food stock to all countries starting tomorrow,” he said.