India on Saturday announced restrictions on wheat exports due to the sudden spike in global prices. In order, the government said the move was made to “manage the overall food security of the country and to support the needs of the neighbouring and other vulnerable countries”.
“The government of India is committed to providing for the food security requirements of India, neighbouring and other vulnerable developing countries which are adversely affected by the sudden changes in the global market for wheat and are unable to access adequate wheat supplies,” the government’s order said.
“There is a sudden spike in the global prices of wheat arising out of many factors, as a result of which the food security of India, neighbouring and other vulnerable countries is at risk,” it said.
Wheat prices have surged globally and India saw the highest spike in Atta prices since January 2010 in April 2022. Early summer and heatwave in India were the major reasons why there has been a reduction in crop yields and high prices. Among the 4 metro cities, the average MRP of wheat is highest in Mumbai at Rs 49/kg, Rs 34/kg (Chennai), Rs 29 (Kolkata) and Rs 27 (Delhi).
For more breaking news, click here.