India, one of the world's leading wheat producers, had banned the export of wheat, the price of which had risen against the backdrop of Russia's military invasion of Ukraine, since last year, but has indicated that it will continue the ban in order to ensure a stable supply in the country. It can also affect the international price of wheat.
In May last year, in response to the rise in wheat prices against the backdrop of the situation in Ukraine, the Indian government took measures to ban wheat exports in principle, citing that it was for domestic food security.
Regarding this ban, India's Minister of Commerce and Industry told Indian media during a visit to Italy on the 5th, "We must ensure that there is sufficient supply in the Indian market, and we also need to control inflation," and indicated that it will continue in the future.
FAO = According to the Food and Agriculture Organization of the United Nations, India is the world's second largest producer of wheat after China, with a wheat production of more than 1 million tons.
Much of it was consumed domestically, but when India announced an export ban last year, it temporarily led to a surge in international wheat prices.
In response to the prolonged invasion of Ukraine, the Indian government may prioritize reducing the impact on the country and affect the international price of wheat in the future.