India bans wheat exports to bring down domestic prices

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India bans wheat exports to bring down domestic prices

STORY: India bans wheat exports to bring down domestic prices DATELINE: May 15, 2022 LENGTH: 00:01:32 LOCATION: New Delhi CATEGORY: ECONOMY/SOCIETY SHOTLIST: 1. various of India gate 2. various of government buildings 3. various of wheat farming field 4. various of crop harvesting STORYLINE: The Indian government has banned wheat exports with immediate effect as part of its steps to control the price increase at home, officials said Saturday. The notification was issued by the federal ministry of commerce and industry's Directorate General of Foreign Trade (DGFT) on Friday. The government said only export shipments for which letters of credit have been issued on or before Friday's notification will be allowed. The government further said it will allow exports on requests from other countries. The notification said the government had taken the decision "in order to manage the overall food security of the country and to support the needs of the neighboring and other vulnerable countries."

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