India bans wheat exports with rapid impact
New Delhi, Could 14
India has banned wheat exports with rapid impact as a part of measures to regulate rising home costs, in accordance with official notification.
Nevertheless, the export shipments for which irrevocable letters of credit score (LoC) have been issued on or earlier than the date of this notification shall be allowed, the Directorate Basic of International Commerce (DGFT) mentioned in a notification dated Could 13.
“The export coverage of wheat … is prohibited with rapid impact…,” the DGFT mentioned.
It additionally clarified that wheat exports shall be allowed on the premise of permission granted by the Authorities of India to different nations to satisfy their meals safety wants and primarily based 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 mentioned.
The export of onion seeds was earlier prohibited.