June 30, 2022
What the Commerce Minister of India said about lifting the ban on wheat exports

What the Commerce Minister of India said about lifting the ban on wheat exports

There are no immediate plans to lift the ban on wheat exports to the world market. However, consignments will be sent directly to the governments of other countries, ”said Piyush Goyal, India’s commerce minister, in an interview with Reuters on Wednesday.

India, the world’s second-largest wheat producer, imposed a ban on wheat exports on May 14 due to a sharp drop in wheat production and record price rises in the local market. Wheat prices have risen by 20 to 40 percent in some parts of the country in recent weeks.

The decision to halt India’s wheat exports has caused severe instability in the international market. One of the reasons for this is the huge increase in the price of food.

Asked if New Delhi has any plans to allow the resumption of private wheat exports, Goyal said, “Currently there is unrest in the world. If we do (lift the ban) it will only help the black market, stockists, and profiteers.” Then it will not really help those who are at risk and the countries that need it.

 

In an interview at the World Economic Forum in Davos on Wednesday, the Indian commerce minister said the best way to do this was to export from government to government. Through this, we can give wheat grains to the most vulnerable poor people at affordable prices.