India on Saturday prohibited wheat exports with immediate effect as part of prevention to control rising domestic prices. According to an official notification. However, the export contracts for which irrevocable letters of credit (LoC) released on or before the date of this notification will be allowed. The Directorate General of Foreign Trade (DGFT) said in a notification dated May 13.
“The export policy of wheat is banned with immediate effect,” the DGFT said.
It also explains that wheat exports will be permitted on the basis of permission granted by the Government of India. To other nations to meet their food security needs and based on the prayer of their governments.
In a separate notification, the DGFT declared the easing of export conditions for onion seeds.
“The export policy of onion seeds is kept under the restricted category, with immediate fact,” it said.
The export of onion seeds was earlier barred.
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