Business

Due to this move of India, Indians living abroad were hit by inflation, flour became expensive in this country

Photo:FILE Punjabi Food

In the era of globalization, the step taken by any one country affects the whole world. This is the effect of the ban on wheat exports by India. But the trouble is that Indians living abroad are being affected the most by this. The news comes from Singapore, where food in restaurants has become expensive after India imposed restrictions on wheat exports from May.

Inflation hits Punjabi community

A media report published from Singapore said that the Punjabi community, especially the roti-loving community, is paying the price for India’s wheat ban. Supermarket chain Fairprice said wheat flour has been in short supply due to increased demand over the past few weeks. This situation may be due to restrictions on the export of wheat and flour in India. The Business Times reported that Singapore accounted for 5.8 percent of the total wheat flour imported from India in 2020.

try to keep prices low

According to a report in The Straits Times, Fairprice suppliers are now sourcing wheat flour from various countries such as Sri Lanka, Australia, Canada and the US. Mathavan Adi Balakrishnan, managing director of Shakuntala, a prominent eatery here, said, “The shortage of (wheat) flour will badly affect our business. We cannot pass on the entire cost burden to our customers. We have to try to keep the prices down.

Flour became 3 times more expensive

Restaurants used to pay five Singapore dollars (US$3.48) per kg for wheat flour from India, but now the flour coming from Dubai is 15 Singapore dollars (US$10.45) per kg. According to United Nations data, Singapore imports 2-2.5 lakh tonnes of wheat and 1-1.2 lakh tonnes of wheat flour annually.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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