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Russian wheat export prices jumped last week along with global prices after Russia's withdrawal from the Black Sea grain deal and amid restrictions on navigation in the Kerch Strait, analysts said.
The leaders of six major trade bodies in Bangladesh have expressed concerns over disruptions to the global supply chain of wheat following Russia's exit from the Black Sea Grain Initiative on July 17.
The lifting of the ban on wheat and broken rice exports highlights India's progressive approach to international trade and its willingness to adapt to changing circumstances.
The progressive procurement of wheat in the current season till May 30 is 262 lakh tonnes, which has already surpassed last year's total procurement of 188 lakh tonnes by 74 lakh tonnes: Food Ministry
India, the worlds second-largest wheat producer, banned wheat exports in May 2022 as part of measures to control rising domestic prices.