New Delhi: The Centre has changed the wheat export policy to include it in the "prohibited" category. The government has banned wheat exports with "immediate effect," according to an order issued by the Ministry of Commerce late Friday night.
The move, according to the administration, is being undertaken to manage the country's overall food security as well as the needs of neighbouring and other vulnerable countries. "There has been a dramatic surge in global wheat prices as a result of several causes, putting India's, neighbouring, and other vulnerable nations' food security at danger," the Ministry stated in its announcement.
However, shipments with an irrevocable letter of credit issued on or before the notification date will be allowed to export. The export will be permitted depending on the authorization granted by the Indian government to other nations to meet their food security needs, as well as the governments' requests.