Home News India has no immediate plans to lift the ban on wheat exports

India has no immediate plans to lift the ban on wheat exports

42
0

The world’s second-largest wheat producer banned private grain sales abroad on May 14 after a heatwave cut production and domestic prices hit record highs.

Global wheat prices rose after the decision.

“Currently there is instability in the world, if we were to do that (lift the ban), it would only help black market traders, hoarders and speculators. It will not help the really vulnerable and needy countries either,” Goyal said. was asked if New Delhi had any plans to allow private exports to resume.

“The smartest way to do this is through the government-to-government route, where we can provide affordable wheat to the most vulnerable poor,” he said in an interview with the World Economic Forum on Wednesday. Davos.

Read:   A ship loaded with laminated sheet has left the port of Mariupol for Russia. What the Ukrainian authorities are announcing

Many wheat-importing countries, including members of the G7 nations, have called on India to reconsider its decision to ban the sale of wheat abroad.

U.S. Secretary of Agriculture Tom Vilsack said on Monday that he was “deeply concerned” about the ban.

Goyal also said he had been in contact with the World Trade Organization (WTO) and the International Monetary Fund (IMF) to explain the reason behind the ban on wheat exports from India.

If you like this article, we look forward to joining the community of readers on our Facebook page, with a Like below:

Read:   The Institute for International Finance halved its growth forecast for the world economy in 2022
Previous articleThe Institute for International Finance halved its growth forecast for the world economy in 2022
Next articleFed Chairman: The US should not take the global status of the dollar for granted. Digital dollar needed