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LATEST NEWS UPDATES | DGFT issues RCs for 1.6 mn tonne wheat export after May 13 ban order

DGFT issues RCs for 1.6 mn tonne wheat export after May 13 ban order

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published Published on Jul 3, 2022   modified Modified on Jul 5, 2022

-PTI/ The Hindu Business Line

Registration certificates of wheat to exporters having valid letter of credit

The commerce ministry's arm Directorate General of Foreign Trade (DGFT) has issued registration certificates for about 1.6 million tonne of wheat to exporters having valid letter of credit, after the ban order of May 13, an official said.

The government is allowing wheat shipments for which irrevocable letters of credit (L/C) were issued on or before May 13, when the ban on the export of the foodgrain was imposed with an aim to contain rising prices.

War between Russia and Ukraine has severely impacted the flow of wheat in the global markets as they are key players in the sector. Russia and Ukraine together account for almost a quarter of the global wheat supply.

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PTI/ The Hindu Business Line, 3 July, 2022, https://www.thehindubusinessline.com/books/reviews/business-economy/dgft-issues-rcs-for-16-mn-tonne-wheat-export-after-may-13-ban-order/article65595001.ece?utm_content=FB&utm_term=SOF&fbclid=IwAR0u4vsQzhZexbE3Ch


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