IPA Newspack
  • Home
  • now
  • politics
  • business
  • markets

IPA /

Business

Business

Wheat export banned with immediate effect

 

India has put a ban on the export of wheat with immediate effect, the ministry of commerce said in a notification in a late Friday night notification. The Directorate General of Foreign Trade (DGDT) in the notification dated May 13 has said that the wheat export ban was imposed due to a sudden rise in the price of the food grain in the global market, and was exercised as part of measures to control rising domestic prices. In the order, the government also said the wheat export ban was put into effect to ensure overall food security.

However, the export shipments for which irrevocable letters of credit (LoC) have been issued on or before the date of this notification will be allowed, the DGFT said in its notification.  “Exports will also be allowed on the basis of permission granted by the Government of India to other countries to meet their food security needs and based on the request of their governments.”

“There is a sudden spike in the global prices of wheat arising out of many factors, as a result of which the food security of India, neighbouring and other vulnerable countries is at risk,” the DGFT said in the notification. “The government of India is committed to providing for the food security requirements of India, neighbouring and other vulnerable developing countries which are adversely affected by the sudden changes in the global market for wheat and are unable to access adequate wheat supplies,” the order further said.

The notification from the DGFT, who works under the commerce ministry, also said that in order to manage the overall food security of the country and to support the needs of the neighbouring and other vulnerable countries, the government was taking the measure to ban wheat export from India.

The order was issued a day after India said it will send trade delegations to nine countries including Morocco, Tunisia, and Indonesia to explore possibilities of boosting wheat shipments as it targetted to export 10 million tonnes of the grain in 2022-23.

With inputs from News18

IPA Special

Vidhi Centre’s New Book Says Nullification Of Article 370 Unconstitutional

August 13, 2022
IPA Special

After 75 Years Of Independence, Health Is Not A Fundamental Right

August 13, 2022
IPA Special

It Is Time To Take Freebies Debate To More Fundamental Levels

August 13, 2022
IPA Special

India Takes Over G-20 Presidency On December 1 AT a Critical Time

August 13, 2022
IPA Special

ED Suffers A Legal Setback In Kerala Against LDF Govt

August 13, 2022
IPA Special

Echoes Of Demand For Civilisational Rather Than National Boundaries

August 13, 2022
IPA Special

Stabbing Salman Rushdie In Open Stage By A Fanatic Gives Ominous Signal

August 13, 2022
Business

Retail inflation in July falls to 6.7%

August 13, 2022
Politics

Grand Alliance to have coordination committee

August 13, 2022
Politics

Sonia says Cong will have respectable share in Bihar govt

August 13, 2022
Politics

HP ‘mass conversion’ bill to prohibit religion change

August 13, 2022
Happening Now

RSS changes social media profile pix to national flag

August 13, 2022
Politics

Pavan Varma quits TMC after a year of joining it

August 13, 2022
Business

India’s exports up 2.14% to $36.27 billion in July; trade deficit triples

August 13, 2022
Politics

‘Slap on BJP’s face, says Tejashwi after meeting Sonia

August 12, 2022
IPA Special

RSS And BJP Are Trying To Appropriate Legacy Of India’s Freedom Struggle

August 12, 2022
IPA Special

India Lacked Policy Focus For Growth With Equity, Grass Root Development

August 12, 2022
IPA Special

Afghanistan After One Year Of Taliban Rule Witnessing Extreme Poverty

August 12, 2022
IPA Special

Mario Fiorentini, The Last Surviving Partisan Of Rome Uprising Dies

August 12, 2022
Business

IRCTC shares decline despite 251% jump in June quarter revenue

August 12, 2022

An appeal

The legacy of IPA, founded by Nikhil Chakravartty, the doyen of journalism in India, to keep the flag of independent media flying high, is facing the threat of extinction due to the effect of the Covid pandemic. Only an emergency funding can avert such an eventuality. We appeal to all those who believe in the freedom of expression to contribute to this noble cause.
Click here to learn more

Share

Reply

  • 0
More on IPA

Retail inflation in July falls to 6.7%

August 13, 2022 10:31 am | IPA Staff

The retail inflation in India, based on the Consumer Price Index (CPI), declined to 6.7 per cent in July, compared with 7.01 per cent in...

Business

India’s exports up 2.14% to $36.27 billion in July; trade deficit triples

August 13, 2022 12:20 am | IPA Staff

India’s exports rose by 2.14 per cent to $36.27 billion in July while the trade deficit almost tripled to $30 billion during the month, according...

Business

IRCTC shares decline despite 251% jump in June quarter revenue

August 12, 2022 10:44 am | IPA Staff

IRCTC Shares Today: Indian Railway Catering and Tourism Corporation (IRCTC) shares were trading lower in the opening trade on Thursday morning. IRCTC posted a 196...

Business

Stocks: Aurobindo Pharma, LIC, ONGC, Hero MotoCorp, and others

August 12, 2022 10:42 am | IPA Staff

The stock market witnessed healthy performance and closed at a four-month high in the last session following a decline in US inflation for July, but overall...

Business

Retail inflation in July falls to 6.7%

in Business
Aug 13, 2022   ·  

India’s exports up 2.14% to $36.27 billion in July; trade deficit triples

in Business
Aug 13, 2022   ·  

IRCTC shares decline despite 251% jump in June quarter revenue

in Business
Aug 12, 2022   ·  

Leave a Reply Cancel reply

You must be logged in to post a comment.

Follow us on
Up Next: Yogi says all faiths lead to same destination
©2020 -2021 India Press Agency, All Rights Reserved
Newspack by India Press Agency
Posting....
logo
  • Home
  • now
  • politics
  • business
  • markets