Indian Wheat Prices Soar After Export Ban Lifted

India's wheat prices have surged by over ₹150 per quintal after the government lifted its four-year ban on exports of wheat and its products, including flour, maida, and semolina. The decision was made on August 24.

The move has raised concerns among some industry stakeholders, who fear that drought-affected El Nino weather may impact the upcoming crop. Global agencies have forecasted El Nino to last until March 2027, which could lead to lower production.

Rajesh Jain Paharia, a New Delhi-based exporter, downplayed these concerns, stating that Indian wheat prices are still higher than those from other origins by at least $30 per tonne f.o.b. He added that export hopes have led to increased domestic prices.