Wheat Price Hike: The effect of the ban imposed on the export of wheat by the Government of India is now visible in the world markets. On Monday, wheat prices in the European market reached a record high. The price (which was already higher) rose to 435 euros ($453) (35,282.73 Indian rupees) per tonne as the European market opened in the wake of Russia's attack on major wheat exporter Ukraine.
Let us tell you that the G-7 countries have criticized the ban imposed on the export of wheat by the Government of India. Agriculture ministers of the Group of Seven Industrialized Countries condemned India's decision on Saturday (May 14). "If everyone starts exporting restrictions or closing markets, it will make the crisis worse," German Agriculture Minister Kem Ozdemir said in Stuttgart. "We call on India to assume its responsibility as a G20 member," he said.
Ministers of the G7 industrialized nations urged countries around the world not to take restrictive action that could put further pressure on produce markets. The agriculture minister will "recommend" addressing the topic at the G7 summit in Germany in June, which Prime Minister Narendra Modi has been invited to attend. The G-7 includes Britain, Canada, France, Germany, Italy, Japan, and the US.
India imposed a ban on wheat export
Let us tell you that India has banned the export of wheat with immediate effect as a measure to control the rising prices at the domestic level. However, the Directorate General of Foreign Trade (DGFT) said in a notification issued on May 13, "The export of consignments for which irrevocable letters of credit (LOCs) have been issued on or before the date of this notification will be permitted."
The DGFT also clarified that the export of wheat will be allowed based on permission granted by the Government of India to other countries to meet their food security needs and based on the request of their governments. Significantly, India is the second-largest producer of wheat in the world.
Oscar Awards 2024: Everyone's eyes are on the Oscar Awards, one of the most important awards in t
Jawan Worldwide Box Office Collection Day 15: 'Jawan' is continuously showing success at the box
In the trends of the Haryana election results, the BJP seems to be getting a majority. According
This time on the occasion of Republic Day, Indonesian President Prabowo Subianto will be the stat
With the start of PM Narendra Modi's tenure for the third time, the work of taking forward the bi
There is big news for the drivers that their pocket money is going to increase. No, we are not ta
Singer Arijit Singh, who has won the hearts of fans by singing over 800 songs, announced his reti
Apple is going to introduce the iPhone 15 Series to its users today. With this series, four new i
The semi-final match of the Under 19 World Cup 2024 between India and South Africa was played on
Do not go to Pakistan, terrorists can attack, America issued an advisory to its citizens
The US has advised its citizens to avoid traveling to violence-hit areas of Pakistan. Issuing an
