India will allow wheat shipments awaiting customs clearance, the government said on Tuesday, somewhat easing its ban on overseas sales on Saturday.
India will also allow wheat exports to Egypt, the government said in a statement.
“It has been decided that in cases where the wheat consignments have been delivered to the customs and registered in their (customs) systems”, either on May 13, 2022 or earlier, they will be sent to their destinations, the government clarified.
India banned wheat exports on Saturday, just days after saying it was aiming for record shipments of 10 million tonnes this year as a heat wave cut production and domestic prices hit a record high.
The government has said it will only allow exports with LCs or payment guarantees issued before May 13.
This provision created uncertainty. Of the approximately 2.2 million tonnes of wheat in ports or in transit, traders said they had letters of guarantee for only 400,000 tonnes.
The ban on wheat exports also trapped about 1.8 million tonnes of grain in Indian ports.
Source: Capital
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