CNN/Reuters: India bans wheat exports as heat wave hurts crop, domestic prices soar
MumbaiIndia banned wheat exports on Saturday — days after saying it was targeting record shipments this year — as a scorching heat wave curtailed output and domestic prices hit a record high.
The government said it would still allow exports backed by already issued letters of credit and to countries that request supplies "to meet their food security needs."
The move to ban overseas shipments was not in perpetuity and could be revised, senior government officials told a press conference.
Read more ....
WNU Editor: India is the world's second largest wheat producer. This ban is going to drive global wheat prices even more.
Update: There will be some exemptions from this ban .... India open to exporting wheat to needy nations despite ban (AP).
Citing A Damaging Heat Wave On Crops India Bans Wheat Exports
World's Food Problems Piling Up as India Restricts Wheat Exports -- Bloomberg
India bans wheat exports to try and tame prices as a scorching heatwave curtailed output -- CNBC
India, second-largest wheat producer, bans exports amid food supply concerns -- FOX News
India bans wheat exports, cites food security and soaring prices -- Al Jazeera
Wheat Prices Soar As India Restricts Exports -- Zero Hedge
No comments:
Post a Comment