India restricts wheat flour exports to ease record local prices

India’s cabinet approved on August 25 restrictions on wheat flour exports to calm prices in the local market. New Delhi banned wheat exports in mid-May as a scorching heatwave curtailed output and domestic prices hit a record high. In July India asked traders to secure permission before exporting wheat flour.

The ban on wheat exports by India boosted demand for wheat flour and the country’s flour exports jumped 200% during April-July 2022 from a year ago and lifted prices in the local market, the government said.

Previously, restrictions on the export of wheat and wheat flour were extended until September 30 by the government of Kazakhstan, which also increased the export quota available under the decree, according to a June 22 report by the Global Agricultural Information Network. from the United States Department of Agriculture (USDA) Foreign Agricultural Service.

On April 14, the Ministry of Agriculture approved the “Regarding export of certain goods from the territory of the Republic of Kazakhstan” decree outlining wheat and wheat flour export restrictions, valid until June 15, 2022.” The recently announced extension added 550,000 tonnes of wheat to the original quota of 1 million tonnes and 370,000 tonnes of wheat flour to the original quota of 300,000 tonnes.

In the previous two months, traders were required to sell 10% of the volume exported to the domestic market at a fixed price. The Ministry of Agriculture noted that these trade restrictions were aimed at balancing wheat and wheat flour exports with domestic food security needs.

Source: Agrolink

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