Wednesday
May, 18

Govt places curb on wheat export

NEW DELHI: The federal government has put a curb on the wheat export by placing this underneath the “prohibited” class. In an order issued late Friday evening, the commerce ministry mentioned that is being carried out to handle general meals safety of the nation and to want the assist of the neighboring and susceptible nations.
As per the notification, wheat will likely be allowed solely in case of “shipments the place Irrevocable Letter of Credit score has been issued” on or earlier than the notification. It says, “Exports may also be allowed on the premise of permission granted by the Authorities of India to different nations to satisfy their meals safety wants and based mostly on the request of their governments.”
TOI on Friday had reported that the federal government was set to take a name on whether or not to decelerate wheat exports amid issues over the dip in shares of the meals grain with the Meals Company of India (FCI). The problem of wheat inventory with the federal government to satisfy the statutory requirement underneath meals safety regulation and different welfare schemes had come up earlier than the committee of ministers headed by Union house minister Amit Shah on Thursday.
Officers had flagged issues over the current tempo of export of wheat to different nations and the probably development for the following few months as a result of extended Russia-Ukraine warfare.

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