EJ Explains| Why India has banned wheat exports

India has taken a bold step to amidst a global food crisis to ban all wheat exports with immediate effect. India which is the second largest producer of wheat was flooded with requests from countries for wheat and has tonnes to spare so why was this ban imperative ? Editorji Explains:

• The government said the move was made in order to “manage the overall food security of the country"
• Atta prices in India saw the biggest surge in 11 years in Apri on increased demand
• Though buffer stock remains adequate in India, the heatwave has reduced crop production estimates
• Excessive heat typically shrivels grains almost ready for harvest
• Price rise for wheat adds pressure to MSP pricing for the govt as well
• MSP for this season was fixed at Rs 2,015 per 100 kg while current wheat price in India, at around Rs 2,400 per 100 kg
• Countries in wheat trade agreements with Ukraine are now turning to India to ensure supplies adding to domestic pressure
• Consumer price inflation in India has soared to a 8 year high
• India already battling imported inflationary pressures due to high prices of crude