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On Friday, the Directorate General of Foreign Trade of India's Ministry of Industry and Commerce issued a notice restricting the export of four types of durum wheat with customs code 100
Indian authorities said the measure was aimed at protecting the food security of India, its neighbours and other vulnerable developing countries , which were affected by supply chain disruptions caused by the crisis in Ukraine , without adequate wheat supplie.
Wheat supplies have fallen in Ukraine and Russia, which used to account for 29 percent of global wheat exports, according to Reute.
After the Ukrainian crisis broke out, the price of wheat in the international market soared by about 4
In India alone, wheat price inflation rose from 77% to 59% in Apr.
After the Ukrainian crisis broke out, the price of wheat in the international market soared by about 4
In India alone, wheat price inflation rose from 77% to 59% in Apr.
India, the world's second largest wheat producer, exported 7 million tonnes of grain in the past year and 242,857 tonnes in the past month alo.
India is facing increasing pressure on wheat sales after a shortage of wheat in international markets intensifi.
Apart from traditional trading partner countries, India has recently exported large volumes to new destinations such as Israel, Turkey, Indonesia, Mozambique and Tanzan.
Although Indian authorities have pledged not to interrupt the supply of wheat to neighbouring countries, Nepal may face stricter conditions for importing the required amount of grain from India, which may affect Nepal's grain supply and its prices in the local market, Nepalese traders sa.
India is facing increasing pressure on wheat sales after a shortage of wheat in international markets intensifi.
Apart from traditional trading partner countries, India has recently exported large volumes to new destinations such as Israel, Turkey, Indonesia, Mozambique and Tanzan.
Although Indian authorities have pledged not to interrupt the supply of wheat to neighbouring countries, Nepal may face stricter conditions for importing the required amount of grain from India, which may affect Nepal's grain supply and its prices in the local market, Nepalese traders sa.
Although Nepal is an agricultural country, it imports most of its rice and wheat to meet domestic dema.
India is the main source of its food impor.
Customs records show that Nepal imported more than 180,920 tonnes of wheat worth Rs 97 billion in the first nine months of this fiscal, and imported rice worth about Rs 38 billi.
In the 2020/21 fiscal year, Nepal spent 197 billion rupees to import 388,278 tonnes of wheat from India, and rice worth 547 billion rupe.
India is the main source of its food impor.
Customs records show that Nepal imported more than 180,920 tonnes of wheat worth Rs 97 billion in the first nine months of this fiscal, and imported rice worth about Rs 38 billi.
In the 2020/21 fiscal year, Nepal spent 197 billion rupees to import 388,278 tonnes of wheat from India, and rice worth 547 billion rupe.
