Wheat shipments registered before ban get govt nod
On 13 May, India banned exports saying that a sudden spike in prices of wheat has sparked food security concerns in India and neighbouring countries
NEW DELHI: The Centre on Tuesday said wheat shipments awaiting custom clearance will be allowed to be exported. This follows the government's sudden decision to ban overseas sales of the food grain on 13 May.
In a clarification today, the government said consignments that have been handed over to customs and have been registered in the systems before 13 May will be allowed to be shipped out.
The move will bring some respite for merchants who had seen huge wheat consignments stuck at Indian ports following the export ban. The union government banned overseas sales saying that a sudden spike in prices of wheat has sparked food security concerns in India and neighbouring countries.
Wheat prices have been surging after the Ukraine war impacted nearly a third of the global exports.
“It has been decided that wherever wheat consignments have been handed over to Customs for examination and have been registered into their systems on or prior to 13.5.2022, such consignments would be allowed to be exported," the commerce and industry ministry said on Tuesday.
The Centre also said that it has allowed export of 61,500 tonne wheat to Egypt, with about 44,340 MT of wheat already been loaded. The decision was made following a request by the Egyptian government, the commerce and industry ministry said.
Egypt, among the biggest importers of wheat from the Black Sea region, had turned to India after the war in Ukraine disputed supplies.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!