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India would allow wheat exports pending customs clearance

The Centre said yesterday that it has agreed to accept the shipping of wheat consignments that were registered with customs authorities before the wheat export restriction went into effect last week.

The Centre has also permitted a wheat shipment bound for Egypt, which was already loaded at the Kandla port, after a request by the Egyptian government, according to the statement.

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The action also comes amid reports that thousands of trucks carrying wheat were stranded at several ports owing to the unexpected announcement of the wheat export restriction.

The government had already restricted wheat exports on May 13 as part of its efforts to prevent price increases at home.

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The government made the decision, according to the Directorate General of Foreign Trade (DGFT), to manage the country’s overall food security and to meet the requirements of neighbouring and other vulnerable nations.

The statement further said that the limits would not apply in circumstances where private merchants have made previous commitments through a ‘Letter of Credit,’ as well as situations where the government has provided authorization to other nations to satisfy their food security needs.

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Furthermore, the administration stated that it will authorise exports in response to demands from other nations.

The order also sought to offer a clear direction to the wheat market in order to prevent stockpiling of wheat supply, according to the ministry.

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