Ban on export of wheat with immediate effect to control rising prices


India bans export of wheat with immediate effect

New Delhi:

According to the official notification, India has banned the export of wheat with immediate effect as a measure to control rising domestic prices.

However, export shipments for which irrevocable letters of credit (LOCs) have been issued on or before the date of this notification will be allowed, the Directorate General of Foreign Trade (DGFT) said in a notification on May 13.

DGFT said, ‘The export policy of wheat is banned with immediate effect…’

It also clarified that export of wheat would be allowed on the basis of 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 easing of export conditions for onion seeds.

“The export policy of Onion Seeds has been placed under Restricted Category with immediate fact,” it said.

Earlier the export of onion seeds was banned.

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