Relaxing norms, the federal government on Tuesday mentioned it has determined to permit shipments of wheat consignments that had been registered with the customs authority earlier than the wheat export ban got here into drive on May 13.
On May 13, the Directorate General of Foreign Trade (DGFT) issued a notification banning exports of wheat with instant impact to manage worth rise.
“It has been decided that wherever wheat consignments have been handed over to Customs for examination and have been registered into their systems on or prior to May 13, such consignments would be allowed to be exported,” the commerce ministry mentioned in an announcement.
The authorities has additionally allowed a wheat consignment headed for Egypt, which was already beneath loading on the Kandla port, it mentioned.
The transfer follows a request by the Egyptian authorities to allow the wheat cargo that was being loaded on the Kandla port.
Mera International India Pvt Ltd, the corporate engaged for export of the wheat to Egypt, had additionally given a illustration for completion of loading of 61,500 MT of wheat of which 44,340 MT had already been loaded and solely 17,160 MT was left to be loaded, it added.
The authorities determined to allow the complete consignment of 61,500 MT and allowed it to sail from Kandla to Egypt, the ministry mentioned.
The transfer additionally comes in opposition to the backdrop of studies that 1000’s of vehicles carrying wheat had been within the queue exterior some ports as a result of sudden announcement of wheat export ban.
The authorities had earlier restricted wheat exports to handle the general meals safety state of affairs in India and to help the wants of neighbouring and susceptible international locations which have been adversely affected by the sudden adjustments within the international marketplace for wheat and unable to entry sufficient wheat provides.
As per the order issued on May 13, the restrictions wouldn’t apply in instances the place prior commitments have been made by non-public merchants by way of Letter of Credit in addition to in conditions the place permission is granted by the federal government to different international locations to fulfill their meals safety wants and on the requests of their governments.
“The order served three main purposes: ensure India’s food security and check inflation, it helps other countries facing food deficit, and it maintains India’s reliability as a supplier,” the ministry mentioned within the assertion, including that the order additionally aimed to supply a transparent course to the wheat market to forestall hoarding of wheat provides.
Source: www.financialexpress.com”
