Wheat Exports Banned With Fast Impact To Management Rising Costs

India bans wheat exports with quick impact

New Delhi:

India has banned wheat exports with quick impact as a part of measures to manage rising home costs, in response to official notification.

Nevertheless, the export shipments for which irrevocable letters of credit score (LoC) have been issued on or earlier than the date of this notification will likely be allowed, the Directorate Normal of Overseas Commerce (DGFT) mentioned in a notification dated Could 13.

“The export coverage of wheat … is prohibited with quick impact…,” the DGFT mentioned.

It additionally clarified that wheat exports will likely be allowed on the idea of permission granted by the Authorities of India to different nations to fulfill their meals safety wants and primarily based on the request of their governments.

In a separate notification, the DGFT introduced the easing of export situations for onion seeds.

“The export coverage of onion seeds has been put below the restricted class, with quick reality,” it mentioned.

The export of onion seeds was earlier prohibited.

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