India bans wheat exports with rapid impact
New Delhi:
India has banned wheat exports with rapid impact as a part of measures to manage rising home costs, in accordance with official notification.
Nonetheless, the export shipments for which irrevocable letters of credit score (LoC) have been issued on or earlier than the date of this notification will likely be allowed, the Directorate Basic of Overseas Commerce (DGFT) stated in a notification dated Could 13.
“The export coverage of wheat … is prohibited with rapid impact…,” the DGFT stated.
It additionally clarified that wheat exports will likely be allowed on the premise of permission granted by the Authorities of India to different international locations to fulfill their meals safety wants and based mostly on the request of their governments.
In a separate notification, the DGFT introduced the easing of export situations for onion seeds.
“The export coverage of onion seeds has been put beneath the restricted class, with rapid reality,” it stated.
The export of onion seeds was beforehand prohibited.
