India has banned the export of wheat from the immediate effect on Saturday to control the hike in prices in the country. India has been the second-largest producer of wheat after China.
The big step to ban the export of wheat comes after when India is facing tremendous heat as the temperature in March started touching 40 degrees. The rising temperature ripens the wheat which affects the loss of wheat grains.
According to the government official, “The ban has been taken to cope up the overall food security of the country and to support the neighbouring and vulnerable countries and the second category includes shipments covered by transitional arrangements, in which unchangeable letters of credit were provided on or before the date of this announcement, subject to the submission of documented evidence as stipulated."
Prime Minister Modi also stated that, ‘The world is facing an unpredictable situation and everyone wants to be secure. Crude oils and food grains prices are getting higher day by day because of their limited quantity”.
India has already exported wheat grains in bulk quantity to Afghanistan after the Taliban captured the country. Adding to it, worldwide buyers are seeking an eye over India as ongoing Russia- Ukraine war the exports have been decreased from the Black Sea region.
The government also needs to narrow down the high inflation rate which is 7.79% as it is reaching one of the highest rates ever. The ban may force farmers to sell wheat to the government through Minimum Support Price as by selling to private buyers or investors, farmers get some amount of profit.
There is a rise in demand for Indian wheat globally because of which it has been advised to the farmers, buyers, traders and exporters to follow all the quality norms so that India can be a reliable country for all the importing countries.
Photo source- money control
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