New Export policy to allow restrictions on wheat flour to curb rising prices

New Delhi, Aug 25 (KNN) The Prime Minister Narendra Modi led cabinet committee on Economic Affairs, on Thursday approved the proposal for the amendment of policy of exemption for Wheat Flour from export restrictions or ban.

The ongoing Russia-Ukraine crises has disrupted the global wheat supply chain, thus leading to an increase in the demand for Indian wheat. This has further led a steep rise in the price of wheat in the domestic markets.

Under the amended policy, restrictions can now be put on the export of Wheat or Meslin Flour. This will help curb the rising prices and ensure food security for the most vulnerable sections of the society.    

Due to prohibition on export of wheat, the demand for wheat flour has increased in foreign markets and its exports from India have registered a growth of 200 per cent during April-July 2022 as compared to same period last year.

A notification regarding the implementation of the policy will soon be issues by the Directorate General of Foreign Trade (DGFT).  (KNN Bureau)