In a move aimed at containing price rise, the Narendra Modi government on August 8 imposed restrictions on shipments of maida, semolina and all variants of wheat flour (atta) from August 14.

Share Market Live

NSE

"Export policy of wheat flour (Atta), maida, semolina

Exporters of these commodities would now need the approval of the inter-ministerial committee on wheat exports.

According to the notification, the necessary modalities with regard to the quality of these items will be notified separately. The provisions under the Foreign Trade Policy regarding transitional arrangements would not be applicable under this notification.

India barred wheat exports in May after the crop suffered a heatwave, but domestic prices still rose to a record high. Yet, international prices are still way above the domestic market, making it unviable for traders to buy from abroad.

(This is a developing story. Check back for more details)

First Published:Aug 8, 2022 9:12 PM IST