Kathmandu, May 16
Since India imposed export restrictions, wheat prices have risen throughout the world. Wheat prices have risen since India stopped exporting, according to the BBC. With India’s decision, wheat prices have increased.
Last year, India decided to stop wheat exports due to rising local costs. Wheat prices have
increased by more than 60% on the global market recently. Wheat is utilized in the
manufacturing of foods ranging from bread to noodles on the international market.
The ban was implemented, according to India’s federal government, to fulfill the country’s food demands. The restriction, however, is just temporary, according to Indian government sources.
India’s move to ban wheat exports has upset German Agriculture and Food Minister Kem Ozdemir. ”Things might grow worse in the coming days if all nations cease exporting to meet their requirements,” he warned the G7 conference.
The war between Russia and Ukraine, in particular, has impacted wheat supplies across the
world. India has restricted exports to fulfill domestic demand as a result of the price hike.
Previously, Indonesia had stopped exporting palm oil entirely. Due to rising local oil costs, the Indonesian government has decided to discontinue exporting palm oil.
