Ban on wheat, milk exports
In an attempt to stem rising prices, the government has imposed a ban on export of wheat and most categories of milk and milk powder. It has also removed all restrictions on import of corn.
By TNN |
NEW DELHI: In an attempt to stem rising prices, the government has imposed a ban on export of wheat and most categories of milk and milk powder. It has also removed all restrictions on import of corn.
While the export and import policies for wheat and corn will be reviewed after the end of the calendar year, the decision on milk and milk powder will be subjected to review in September.
The government’s decision is unlikely to make a difference to inflation, as the country has not exported a large quantity of wheat or milk in the last few months. Since corn prices in the country are ruling below international prices, removal of restrictions on import of corn is also not expected to create a ripple.
Private players have imported 5 lakh tonnes of wheat since late last year to augment supplies for flour mills and biscuit companies after the government decided to allow duty-free imports of the foodgrain, following low production. The directorate-general of foreign trade (DGFT) came up with the three notifications on February 9.
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