Bangladesh
Indian Wheat Exports India not restricting wheat exports to Bangladesh: Indian High Commission
Own Correspondent, Dhaka, May 17: Following the recent news that India has banned wheat exports, many have expressed fears of a food crisis in the country or a rise in prices. However, there is not much to worry about it as India's wheat exports to Bangladesh as a neighbouring country are not being restricted.
The Indian High Commission in Dhaka confirmed the information in a press release on Sunday (May 15).
According to the statement, various media outlets have recently reported on a 'ban' on wheat exports from India. The measures are aimed at ensuring domestic food availability, reducing food-related inflation and meeting the needs of India's neighbors and other countries at risk of food insecurity.
A statement from the Indian High Commission made it clear that restrictions on wheat exports from India would not affect contract shipments already in place. These guidelines will not stop India's wheat exports to neighbouring countries either.
In addition, wheat exports will continue at the request of the governments of other countries which are willing to import Indian wheat to meet domestic demand.
Earlier on Friday, India banned wheat exports in a bid to reduce prices in the domestic market. A statement issued by the country's Directorate General of Foreign Trade (DGFT) said the decision was taken by the Indian government to ensure the country's overall food security and to meet the needs of neighboring and other unprotected countries.
The notification further said that the export Letter of Credit (LCs) which have been issued before the notification, will be able to go. Besides, subject to the approval of the Government of India, wheat exports to other countries will also be allowed subject to government request. The ban took effect immediately after the announcement on Friday.
Bangladesh is the largest buyer of Indian wheat in both quantity and price. In the fiscal year 2020-21, 54 percent of India's total wheat exports came to Bangladesh. The top 10 buyers of Indian wheat that year were Bangladesh, Nepal, UAE, Sri Lanka, Yemen, Afghanistan, Qatar, Indonesia, Oman and Malaysia.
