Government’s big decision: Ban imposed on export of wheat

New Delhi : Amidst the rising prices of wheat, the central government has taken an increased decision. On Saturday, the government banned the export of wheat with immediate effect. Wheat has been kept in the restricted category. It has been said by the government that this step has been taken in view of the food […]
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Government’s big decision: Ban imposed on export of wheat


New Delhi : Amidst the rising prices of wheat, the central government has taken an increased decision. On Saturday, the government banned the export of wheat with immediate effect. Wheat has been kept in the restricted category. It has been said by the government that this step has been taken in view of the food security of the country. At the same time, it was necessary to do this to support neighboring countries and poor countries. Meanwhile, let us tell you that the countries which have already been allowed to export it, will continue to export it. The Directorate General of Foreign Trade (DGFT) has said in a notification issued on May 13 that export of consignments for which irrevocable letters of credit (LoCs) have been issued on or before the date of this notification will be allowed. It is worth noting that due to the ongoing war between Russia and Ukraine, wheat prices have increased strongly all over the world. Domestic wheat prices have also increased in India. In many major states, the process of government procurement is going on very slow and wheat has been procured much less than the target. The reason for this is that farmers are getting more price in the market than the Minimum Support Price (MSP).