Homeeconomy News

    Atta exporters will need government approval hereon

    economy | IST

    Atta exporters will need government approval hereon

    Mini

    As per a notification from the Directorate General of Foreign Trade (DGFT) released on July 6, it is now mandatory for all exporters to seek prior permission from the inter-ministerial committee on wheat export before sending any outbound shipment.

    The exporters of atta (wheat flour) and other related products will now need the government's approval from July 12 for exports. As per a notification from the Directorate General of Foreign Trade (DGFT) released on July 6, it is now mandatory for all exporters to seek permission from the inter-ministerial committee on wheat export before sending any outbound shipment.
    While there is no outright ban on the exports of wheat flour and related products such as maida, semolina etc., the attempt clearly is to curb these exports amid reports of a sharp surge in such shipments following the May 13 wheat ban.
    The notification has made an exception for exports that were loaded on ships before July 6 or where the consignments were already handed over to the Customs.
    Earlier, Food Secretary Sudhanshu Pandey had told CNBC-TV18 that the food ministry was monitoring atta exports. While noting a fall in wheat prices, Pandey maintained that the regulations to curb exports of the commodity would continue to remain in place even as the government takes an appropriate call on requests from some countries.
    Global wheat prices have surged 60 percent this year with the staple's cost hitting an all-time high in India as well in the wake of the ongoing Russia-Ukraine war.
    Before the May 13 ban, India aimed to ship a record 10 million tonnes of wheat. Overall, India is estimated to have produced between 95-98 million tonnes of wheat in 201-22 and exported 7.08 million tonnes.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    next story

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng