UAE Bans Exports Of Indian Wheat
Due to severe disruptions in global food supplies as a result of the Russia-Ukraine conflict, the UAE has banned exports of Indian wheat and is working to ensure domestic supply.
The United Arab Emirates (UAE) has put a four-month halt on wheat and wheat flour exports and re-exports from India, according to state news agency WAM, citing the country’s Economy Ministry.
Due to disruptions in global trade flows, the Gulf nation said it is working to ensure domestic supply. All wheat kinds, including hard, regular, and soft wheat, as well as wheat spelt flour, are covered by the resolution.
“Companies wishing to export/re-export wheat and wheat flour varieties of Indian origin, which were imported into the country before May 13, must submit a request to the ministry to obtain permission to export,” it said, adding that India had approved exports of wheat to the UAE for domestic consumption only.
India halted wheat exports a month ago, with the exception of countries with pre-existing letters of credit and those attempting to maintain food security. Since then, India has permitted 469,202 tons of wheat to be shipped.
Both countries’ recent restrictions come amid severe disruptions in global food supplies, which have been compounded by the Russia-Ukraine conflict. Both countries are major wheat exporters in the world.
In February, the UAE and India inked the Comprehensive Economic Partnership Trade Agreement (CEPA), which is a broad trade and investment agreement. This intends to reduce all tariffs on goods between the two countries and grow annual trade to $100 billion within five years. It came into effect on May 1st.
- Source : GreatGameIndia
