G7 Chides India’s Move To Ban Wheat Exports

G7 Chides India’s Move To Ban Wheat Exports


New Delhi: The Agriculture Ministers from the Group of Seven (G7) industrialised nations on Saturday condemned India’s decision to ban unapproved wheat exports. “If everyone starts to impose export restrictions or to close markets, that would worsen the crisis,” German Agriculture Minister Cem Ozdemir told a press conference in Stuttgart, Agence France-Presse reported. Ozdemir said some “20 million tonnes” of wheat were sitting in Ukrainian silos and “urgently” needed to be exported. The ministers of the G7 industrialised nations urged countries around the world not to take restrictive action that could pile further stress on the produce markets.

Ozdemir, whose country holds the rotating presidency of the group, said they “spoke out against export stops and call as well for markets to be kept open”.

“We call on India to assume its responsibility as a G20 member,” he added.

The Agriculture Ministers, according to AFP, would also “recommend” the topic be addressed at the G7 Summit to be held in Germany in June.

Prime Minister Narendra Modi has been invited to attend the G7 Summit.

In what came as a blow to nations affected by supply shortages because of the war in Ukraine, New Delhi on Saturday banned wheat exports without prior government approval after recent scorching temperatures hit production.

India banned wheat exports with immediate effect as part of measures to control the rising domestic prices.

“The export policy of wheat is prohibited with immediate effect,” the Directorate General of Foreign Trade (DGFT) said in a notification dated May 13.

The DGFT added, however, the export shipments for which irrevocable letters of credit (LoC) have been issued on or before the date of this notification will be allowed.

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