Government’s big attack on inflation, ban on export of flour, maida and semolina to curb rising prices
Wheat Flour Exports Ban: The government has banned the export of wheat flour, maida and semolina to check rising prices. Let us tell you, earlier in May, the government Wheat Exports were also banned. Directorate General of Foreign Trade (DGFT) It has said that export of certain items may be allowed with the permission of the Government of India.
There has also been a ban on the export of flour
According to DGFT, the government has taken such a decision to control the rising inflation in the country. Earlier on August 25, the government had ordered a ban on export of wheat flour to check rising commodity prices, a decision taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA).
“The Cabinet Committee on Economic Affairs has approved the proposal to amend the policy for exemption from export ban/restriction of wheat or meslin flour,” an official statement said.
Indian wheat demand increased due to Russia-Ukraine war
Russia and Ukraine are the major wheat exporters, accounting for about one-quarter of the global wheat trade. The war between the two countries has caused disruption in the global wheat supply, which has increased the demand for Indian wheat, which is having an impact on India’s domestic market. There has been an increase in the prices of wheat. To ensure the country’s food security, the government had banned the export of wheat in May, triggering a spurt in overseas demand for wheat flour.
Wheat exports registered a growth of 200 percent
Wheat flour exports from India have registered a growth of 200 per cent during April-July 2022 as compared to the same period of 2021. The increasing demand for wheat flour abroad has led to a significant increase in the prices of the commodity in the domestic market. Earlier there was a policy of banning the export of wheat flour or not imposing any restriction. This required a partial revision of the policy to withdraw the exemption from the ban on exports to ensure food security and check.
Increase in the price of wheat in the domestic market
India exported wheat flour worth USD 246 million in 2021-22. In this financial year alone, during April-June, exports have crossed nearly US$ 128 million. According to data maintained by the consumer affairs ministry, the all-India average retail price of wheat has risen 22 per cent to Rs 31.04 per kg on August 22, as against Rs 25.41 per kg in the year-ago period. At present, the average retail price of wheat flour (atta) has increased by 17 per cent to Rs 35.17 per kg.
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