India's wheat export ban stays despite the G7 pressure
Wheat
India
Published May 26, 2022
Tridge summary
India's ban on wheat exports has denied the country's farmers and traders an opportunity to earn money from the sale of wheat in the global market that is currently facing shortages of the prime staple as a result of Russia's war in Ukraine, say analysts.
Original content
India produced an estimated 107.9 million metric tons of the grain in 2020–2021, second only to China with 134.3 million metric tons. Russia came in third with 85.4 million metric tons.Farmers' hopes were raised when the government announced on 12 May plans to export 10 million metric tons of wheat during 2022–2023 and identified Algeria, Egypt, Indonesia, Lebanon, Morocco, Philippines, Thailand, Tunisia, Turkey and Vietnam among potential buyers.But two days later, the trade department under the Ministry of Commerce and Industry did an about-turn by issuing a notification restricting wheat exports except through government channels and where private traders had already contracted export deals."Raising expectations of making good the global supply shortfall and then back-tracking creates a real problem," said Biswajit Dhar, professor and head of the Centre for WTO Studies, New Delhi. "Trade channels seek reliable suppliers for good reasons and India's credibility would therefore ...
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