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India currently imposes an immediate ban on wheat exports due to lower-than-expected yields caused by a heat wave. Despite previously aiming for record shipments this year, the scorching temperatures have resulted in reduced output and record-high domestic prices. However, exceptions will be made for already issued letters of credit and countries that require supplies to fulfill their food security needs. Government officials clarify that the export ban is not permanent and may be subject to revision.
Friday, 13 May, 2022