India Lifts Wheat Export Ban Amid Global Supply Pressures

India has lifted its ban on wheat exports to boost global supplies strained by the conflict between Russia and Ukraine. The move, which could ease supply pressures in import-dependent countries across Asia, Africa, and West Asia, comes after India's last wheat harvest reached an all-time high of 120.6 million tons.

The government has permitted exports of wheat, including durum varieties, as well as flour and other products. This decision was made through notifications issued by the Directorate General of Foreign Trade on Monday. In February 2022, the government had permitted limited shipments of the grain, but a ban was imposed in the same year due to food security concerns.

The conflict between Russia and Ukraine has disrupted grain flows from top exporters, sending Chicago wheat futures to a two-year high. India's decision to lift its ban could help alleviate supply pressures in countries reliant on imports.