India to allow the export of 1M tonnes of wheat shortly

India is most likely to allow the export of up to one million tonnes of wheat shortly as part of a package of exemptions to the shipment ban, according to information presented by several officials at the country’s Ministry of Commerce and Industry to S&P Global Commodity Insights.

India banned the export of wheat on May 13 amid rising domestic inflation and falling production. The government cut wheat production estimates for the 2022-23 marketing year (April-May) by 5 million tonnes on May 19 from a projected 111.4 million tonnes in February. As a result, the revised production is about 3% lower.

Source: Canal Rural

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