No impact on shipments of wheat already contracted for export: India

The Indian High Commission in Dhaka has said while restrictions have been placed on commercial exports of wheat from India, the instructions will not have any impact on shipments of wheat already contracted for export, reports UNB.

The restrictions will not prevent the export of wheat to India's neighbours and other countries that might wish to procure Indian wheat to supplement their domestic food security policies, the Indian High Commission said in a statement on Monday.

These measures have been taken to safeguard domestic food availability, mitigate food price linked inflation and support the genuine needs of India's neighbours and other countries with food security concerns, it added.

Global wheat prices soared a record 6 per cent Monday following India's decision to ban exports of the commodity.

On Friday, India said it was banning private exports to manage its food security in the face of lower production and sharply higher global prices.

The world's second-largest wheat producer on Sunday said it would keep a window open to export wheat to food-deficit countries despite restrictions announced two days earlier.

India's commerce secretary BVR Subrahmanyam told reporters the government would also allow private companies to meet previous commitments to export nearly 4.3 million tonnes of wheat until July. The country exported 1 million tonnes of wheat in April.

India mainly exports wheat to neighbouring countries like Bangladesh, Nepal and Sri Lanka.