India bans wheat exports amid Ukraine crisis

India bans wheat exports amid Ukraine crisis

The world was counting on the world to alleviate supply constraints that were caused by the war in Ukraine, as a result of the ban on wheat exports by Bloomberg India.

In a notification dated May 13th, the Directorate General of Foreign Trade said that the government is committed to ensure the country s food security. India will still allow exports on the request of other countries, it said.

The notification said that ships with irrevocable letters of credit that have already been issued will still be allowed.

The government has been considering export restrictions because of a record-shattering heat wave that has damaged wheat yields in the South Asian nation, according to Bloomberg News earlier this month. The food ministry said earlier that it didn't see a need to control exports, even as the government cut estimates for India's wheat production.

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