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UAE suspends export of Indian wheat for 4 months
UAE News
The UAE will stop exporting wheat of Indian origin for a period of four months.
All varieties of buckwheat will be affected, hard, regular and fine, as well as wheat and spelt flour, commencing retroactively from May 13, state news agency Wam reported on Wednesday.
A scorching heatwave in India that has badly affected crops prompted the government in New Delhi on May 13 to enforce a ban on wheat exports as local prices of the commodity rose to record levels.
In recent weeks, however, India has given assurances that it has enough wheat stocks and can help other countries to meet their needs despite the shortages.
Since then a number of countries, including the UAE, have requested that India resume shipping wheat to them.
This is the third time India may allow international shipments of wheat since it imposed the ban on exports in May.
The Ministry of Economy said that companies wishing to export or re-export wheat and wheat flour varieties of Indian origin brought into the country before May 13 must submit an application for a permit.
The UAE’s decision was made in consideration of international developments that are affecting the flow of trade, and in appreciation of relations between the Emirates and India, especially after the signing of the Comprehensive Economic Partnership Agreement between the two countries, authorities said.
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