India lifts 4-year-long ban on wheat exports
Ample stocks of the commodity allow for shipments and encourage farmers to increase production in coming years.
India has eliminated its four-year ban on wheat and wheat product exports, aiming to elevate farmers' incomes, according to the Directorate General of Foreign Trade (DGFT). This ban was initially imposed in May 2022. The DGFT's official notification indicated that the export policy for wheat was changed from prohibited to free with immediate effect.
The decision to lift the ban was deemed significant because the federal government had sufficient stocks of the commodity and viewed it as a move to encourage farmers to boost wheat production in future years. Officials stated that due to depressed domestic wheat prices, permitting exports of wheat and wheat products would raise domestic prices, thereby increasing farmers' incomes. Furthermore, it was anticipated to motivate farmers to cultivate more wheat in the upcoming season.
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- India lifts 4-year-long ban on wheat exports freemalaysiatoday.com
