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LATEST NEWS UPDATES | India relaxes wheat export ban -Aparna Banerjea

India relaxes wheat export ban -Aparna Banerjea

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published Published on May 17, 2022   modified Modified on May 18, 2022

-BusinessToday.in

Allows wheat consignment already registered with customs prior to the order.

The Indian government on Tuesday announced some relaxation to its earlier notified ban on wheat exports issued by Directorate General of Foreign Trade (DGFT), Department of Commerce. 

In a fresh notification, the Ministry of Commerce stated, "It has been decided that wherever wheat consignments have been handed over to Customs for examination and have been registered into their systems on or prior to 13.5.2022, such consignments would be allowed to be exported."

Further, it also added that the government also allowed a wheat consignment headed for Egypt, which was already under loading at the Kandla port. This followed a request by the Egyptian government to permit the wheat cargo being loaded at the Kandla port. 

On Saturday, India had banned wheat exports with immediate effect as part of measures to control rising domestic prices, according to official notification.

However, the export shipments for which irrevocable letters of credit (LoC) have been issued on or before the date of this notification will be allowed, it added.

Please click here to read more. 


BusinessToday.in, 17 May, 2022, https://www.businesstoday.in/latest/story/india-relaxes-wheat-export-ban-333906-2022-05-17?fbclid=IwAR1uZZXV9gNPqpCvyB6MaNZGaNJUuEe484rH1NFeHVzaGjzkK_n8zvkDr9A


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