India Bans Wheat Exports
India recently announced a ban on wheat exports due to a spike in global prices and the “resulting food security risks,” the USDA Foreign Agricultural Service said in a May 19 report. India is applying exemptions to export contracts with…
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a customs registration or an “irrevocable letter of credit on or before” May 13, 2022, USDA said, as well as exports to other countries to “meet their food security requirements.” USDA said that more than half of the wheat at or near ports may be eligible for an exemption, and said traders are “seeking exemptions for additional quantities on various grounds like advance partial payment, etc.”