India has now lifted its ban on exporting wheat after four years. Reports claim that India allowed the export of wheat for the first time since 2022 because the reserves of wheat in the country increased. The high cost of wheat internationally, along with favorable logistics costs, has further made Indian wheat more attractive to Asian and Middle Eastern buyers.
According to trade sources, the country’s leading wheat exporting company, ITC, has begun loading approximately 22,000 metric tons of wheat from the Kandla port on the west coast. This wheat is being prepared to be shipped to the United Arab Emirates (UAE). Exports are resuming due to improved shipping and good prices in the international market.
Bad weather and unusually hot temperatures have led to poor wheat crops. It was expected that India might even need to import wheat in 2017. In order to maintain high domestic reserves and ensure food security, India had imposed a ban on the export of wheat in 2022, which continued into 2023-24.
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