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TMI BlogCabinet approves Export Policy for Wheat or Meslin FlourX X X X Extracts X X X X X X X X Extracts X X X X ..... Cabinet approves Export Policy for Wheat or Meslin Flour - News and Press Release Dated:- 25-8-2022 - News - The Cabinet Committee on Economic Affairs, chaired by the Prime Minister, Shri Narendra Modi has approved the the proposal for amendment of policy of exemption for Wheat or Meslin Flour ( HS Code 1101 ) from export restrictions/ ban. Impact: The approval will now allow to put a re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... striction on the export of Wheat Flour which will ensure a curb on rising prices of wheat flour and ensure food security of the most vulnerable sections of the society. Implementation : Directorate General of Foreign Trade (DGFT) shall issue a notification to this effect. Background: Russia Ukraine are the major exporters of wheat accounting for around 1/4 th of the g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lobal wheat trade. The conflict between them led to the global wheat supply chain disruptions increasing demand of Indian wheat. As a result, the price of wheat in domestic market showed an increase. In order to ensure food security of 1.4 billion people of the country, the decision was taken to put a prohibition on export of wheat in May 2022. However, due to prohibition on export of wheat (wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich was done to put a check on increasing prices in domestic market and to ensure food security in the country), the demand for wheat flour has increased in foreign markets and it s exports from India have registered a growth of 200% during April-July 2022 compared to the corresponding period in 2021. The increased demand for wheat flour in international market led to significant price rise o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f wheat flour in the domestic market. Earlier, there was a policy not to prohibit or put any restrictions on the export of Wheat flour. Therefore, a partial modification of the policy was required by withdrawing the exemption from ban/ restrictions on export for Wheat Flour in order to ensure food security and put a check on mounting prices of Wheat flour in the country. - News - Press relea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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