It is done to Preserve Domestic Inflation!
India bans the export of wheat to preserve domestic inflation. Wheat was put under the “prohibited” category following a sudden spike in the prices of the commodity. On Saturday, The Centre in a notification issued, defended the decision, stating that it was done to manage the overall food security of the country and support neighboring vulnerable countries.
The export policy of wheat … is prohibited with immediate effect…," the DGFT said.
It also clarified that wheat exports will be allowed based on permission granted by the Government of India to other countries to meet their food security needs and based on the request of their governments.
In a separate notification, the DGFT announced the easing of export conditions for onion seeds.
"The export policy of onion seeds has been put under the restricted category, with immediate fact," it said.
The export of onion seeds was earlier prohibited.
Further added, the world is facing a new challenge now—the food stock of the world is diminishing. I was speaking to the US President, and he also raised this issue… If the WTO gives permission, India is ready to supply food stock to the world from tomorrow," he had added.
The government statement comes as the Ukraine war - which began in February - enters the 12th week and the supply from the Black Sea has been restricted for nations amid the conflict. The United Nations has been repeatedly raising concerns over an imminent food shortage.
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