India bans wheat exports after supply crunch

India bans wheat exports after supply crunch

After Russia invaded Ukraine — two countries that together accounted for nearly a third of the world’s wheat supply — and sent food prices to record highs, India was supposed to step in to fill the void. Not anymore. In a Commerce Ministry order, Indian officials said they made the decision after considering India’s own needs and those of neighboring countries. India’s food security was “at risk” due to surging international prices, the ministry said. The announcement marked an abrupt reversal weeks after Indian officials and international analysts talked up the possibility of India significantly ratcheting up exports to fill the gap created partly by the war in Ukraine. International food prices have soared to record highs in recent months, putting pressure on billions of people, particularly the world’s poorest, …
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