India bans export of wheat flour to curb rising prices
Monday, 29 August 2022
The Union government on Saturday banned the export of wheat flour, maida, semolina and wholemeal aata to control rising prices, reports Reuter.
In May, India banned the export of wheat itself after a spate of severe heat waves since March curtailed output and domestic prices rose to a record high.
The ban led to an increased demand for wheat flour, with its exports rising 200% between April and July from a year ago, the government said on Thursday.
In a notification on Saturday, the Directorate General of Foreign Trade said that the food security requirements of India, its neighbours and other vulnerable developing countries have been adversely hit by the "sudden changes in the global market" - referring to Russia's invasion of Ukraine in February.
Before the war, Russia and Ukraine accounted for a third of global wheat exports.
In April, India hoped to fill the market gap and said that it was looking to export a record 10 million tonnes of wheat in 2022-2023.
The all-India average retail price of wheat has risen by over 22% to Rs31.04 per kilogram as of August 22, compared to Rs25.41 per kilogram in the year-ago period, PTI reported, citing data from the consumer affairs ministry.
The average retail price of wheat flour has jumped by over 17% to Rs35.17 per kg as against Rs30.04 earlier, the data showed.