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Indian Wheat Export Ban


India introduced a ban on wheat exports on 14 May following an ongoing heatwave that has reduced output and raised domestic prices, Reuters reports. Shipments where letters of credit have already been issued will be allowed to proceed, as will exports requested by countries to meet “food security needs”. Before the ban was announced, the US Department of Agriculture forecast India would export 10.0 Mt of wheat in the 2021/22 market year (Jul/Jun) and 8.0 Mt in 2022/23.