India restricts wheat trade
India has banned wheat exports with immediate effect, citing a threat to food security, in part due to the conflict in Ukraine and as a scorching heatwave curtailed output and domestic prices reached a record high.
Despite not being one of the world’s top wheat exporters, India’s ban could push global prices to new highs, putting poor consumers in Asia and Africa at risk.
A spike in global wheat prices threatened India’s food security and that of neighbouring and vulnerable countries, according to a notice published in the government gazette on Friday by India’s Directorate of Foreign Trade.
Although India’s wheat output did not fall dramatically this year, government officials said that unregulated exports caused a rise in local wheat prices.
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