Wheat Export Ban: Union cabinet approves ban on the export of wheat and muslin flour, know the reason
Given the concerns related to the production of wheat during the scorching heat in May, the government banned the export of wheat. During that time it was feared that due to the continuation of the export of wheat and its flour in the country, its prices in the domestic market may increase significantly.
The cabinet Committee on Economic Affairs (CCEA), chaired by prime minister Narendra Modi, has taken a big decision on the export of flour. The Committee in its meeting has given its approval to ban the export of wheat and muslin flour. Let us tell you that in the year 2021-22, india exported wheat flour worth $ 24.65.7 million. In May last, given the concerns related to the production of wheat during the scorching heat, the government banned the export of wheat to control its rising prices.
Significantly, russia and ukraine account for 25% of the world's export of flour. At present, due to the ongoing war between the two countries, flour is not being exported from there. On the other hand, due to this war, supply lines around the world are also affected. Due to these reasons, the price of wheat has increased in the global market. In this situation, traders take more interest in the export of flour, which may threaten to increase the prices of wheat and flour in the country.
Experts believe that the government has decided to ban the export of wheat and flour to avoid such a situation and to ensure food security for the country's 1.4 billion population.