You are here: Home » Politics » News » National
Business Standard

Congress slams govt's wheat export ban, terms the move 'anti-farmer'

According to an official notification, India has banned wheat exports with immediate effect as part of measures to control rising domestic prices

Topics
Congress | wheat | wheat procurement

Press Trust of India  |  Udaipur 

Photo: Bloomberg
Photo: Bloomberg

The on Saturday hit out at the government over the ban on the export of wheat, saying it was an "anti-farmer" measure as it deprives of reaping the benefit of higher export prices.

According to an official notification, India has banned exports with immediate effect as part of measures to control rising domestic prices.

Asked about the government's move at a press conference on the second day of the Congress' ongoing 'Chintan Shivir' here, senior leader and former finance minister said, "I presume that it is because the central government has failed to procure enough . It is not that production has come down, it is more or less the same. In fact, it may be marginally more."

Chidambaram said that on Friday, a Chhattisgarh minister had told him that the government there had procured 97 lakh tonnes of paddy.

If procurement had taken place, there would not have been any need to ban the export of wheat, he said.

"But let me add, banning the export of wheat is an anti-farmer measure. It deprives the farmer of reaping the benefits of higher export prices. It is an anti-farmer measure and I am not surprised, this government has never been very friendly to the farmer," Chidambaram said.

The Directorate General of Foreign Trade (DGFT) said in a notification dated May 13, "The export policy of wheat is prohibited with immediate effect."


However, the export shipments for which irrevocable letters of credit (LoC) have been issued on or before the date of this notification will be allowed, the DGFT said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, May 14 2022. 12:43 IST
RECOMMENDED FOR YOU