India’s ban on wheat export likely to affect Bangladesh
BI Desk || BusinessInsider
India has banned the export of wheat with immediate effect in a bid to ensure food security.
India said only government-to-government deals will be entertained.
Bangladesh is the top destination for India’s wheat exports.
India’s wheat export to Bangladesh increased by a massive 255 percent in value from April’21 to March’22 (Indian fiscal year), according to the country’s commerce ministry data.
During FY2021-22, India exported wheat to Bangladesh valued at $1.10 billion, up from $310 million in the previous year. The volume of India’s wheat export to Bangladesh grew by 241 percent during the period.