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India limits wheat flour export to curb worth rise

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The Central authorities has determined to limit the export of wheat flour in an effort to curb the rising costs of the commodity and guarantee meals safety of probably the most susceptible sections of the society. The choice was taken by the Cupboard Committee on Financial Affairs (CCEA) chaired by Prime Minister Narendra Modi right here on Thursday.

The federal government will accordingly amend the coverage of exemption for the commodity from export restrictions or ban.

The Directorate Basic of International Commerce (DGFT) will problem a notification to this impact, a Authorities launch stated. The choice is taken in opposition to the backdrop of the Russia-Ukraine warfare. The Centre stated each the international locations are the main exporters of wheat accounting for round 1/4th of the worldwide wheat commerce and the battle between them led to the worldwide wheat provide chain disruptions rising demand of Indian wheat. “Consequently, the worth of wheat in home market confirmed a rise. With a view to guarantee meals safety of 1.4 billion individuals of the nation, the choice was taken to place a prohibition on export of wheat in Could 2022,” the discharge stated.

Nonetheless, the Centre stated, because of the prohibition on export of wheat, the demand for wheat flour has elevated in overseas markets and its exports have registered a progress of 200% throughout April-July 2022 in comparison with the corresponding interval in 2021. “The elevated demand for wheat flour in worldwide market led to vital worth rise of wheat flour within the home market,” the discharge added.

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“Earlier, there was a coverage to not prohibit or put any restrictions on the export of wheat flour. Subsequently, a partial modification of the coverage was required by withdrawing the exemption from ban/ restrictions on export for wheat Flour in an effort to guarantee meals safety and put a test on mounting costs of wheat flour within the nation,” the discharge added.

By- The Hindu

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