Govt lifts ban on wheat exports in boost to war hit global supply | Economy & Policy News

By Pratik Parija

India, the world’s second-biggest wheat producer, has scrapped a years-long ban on exports of the grain, a move that could ease global supplies that are under strain from escalating attacks between Russia and Ukraine.

The government has permitted exports of wheat, including the durum variety, as well as flour and other products, according to notifications issued on Monday by the Directorate General of Foreign Trade. In February, the government had permitted limited shipments of the grain.

India’s outbound wheat shipments could ease supply pressures in import-dependent countries across Asia, Africa and the West Asia at a time when a pickup in attacks on commercial vessels and ports in the Black Sea has disrupted grain flows from some of the world’s top exporters. The conflict has sent Chicago wheat futures to a two-year high.

India’s last wheat harvest climbed to an all-time high of 120.6 million tons. However, the government has largely prohibited wheat exports since 2022 — the year Russia’s invasion of Ukraine began — citing food security concerns.