Government also cites food security after heatwave stunted domestic wheat output and drove up prices
Labourers work in a mill of refined wheat flour at Khanna, in India's state of Punjab. The national government will restrict exports of the flour to bring down rising domestic prices.Labourers work in a mill of refined wheat flour at Khanna, in India's state of Punjab. The national government will restrict exports of the flour to bring down rising domestic prices.Last modified on Fri 26 Aug 2022 06.
Wheat prices jumped to a record 24,500 rupees a tonne this week in India, the world’s second-largest producer of wheat. That was up nearly 20% from recent lows that followed the government’s surprise ban on exports on 14 May, ending hopes India could fill the market gap left by a plunge in exports from the Black Sea region following Russia’s February invasion of Ukraine.
Before the ban, India had aimed to ship a record 10m tonnes this year. Much of that would have gone to other developing countries such as Indonesia, the Philippines and Thailand. Apart from problems with the heatwave damaging harvests, India’s vast stocks of wheat – a buffer against famine – have been strained by the distribution of free grain during the Covid-19 pandemic to about 800 million people.
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