AMN / WEB DESK
The Central Government today relaxed its order restricting wheat exports. “It’s been decided that wherever wheat consignments have been handed over to customs for examination and registered into their systems on or prior to May 13, such consignments would be allowed for export,” the Commerce Ministry’s statement read.
The Centre on Saturday had banned all shipments of wheat with immediate effect. Export of all wheat, including high-protein durum and normal soft bread varieties, were moved from “free” to the “prohibited” category.
Only two kinds of shipments were be allowed: exports based on permission granted by the Centre to other countries “to meet their food security needs” and “on the request of their governments”; and contracted exports against which irrevocable letters of credit have already been issued “on or before the date of this notification, subject to submission of documentary evidence as prescribed,” according to a notification by the Department of Commerce.
Following the ban, international prices spiked by almost 6 per cent a bushel (60 pounds or one million kernels or 27.21 kg) when global markets opened Monday. Locally, prices dropped sharply by 4-8 per cent in different states — Rs 200-250 a quintal in Rajasthan, Rs 100-150 a quintal in Punjab, and about Rs 100 a quintal in Uttar Pradesh.