Prices on Monday reached the highest level after India imposed restrictions on wheat exports. Wheat supplies were affected due to the ongoing war between Ukraine and Russia. Now due to this decision of the Government of India, this crisis has deepened. Let us inform, India has imposed a ban on the export of wheat with a view to curb the steep rise in the prices of this staple food grain amid concerns that wheat production will be affected due to scorching heat and heat wave.
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Wheat price reached the highest level
On Monday, the rate of wheat per ton in the European market opened at $453. After the decision of the Government of India, the Agriculture Ministers of 7 countries criticized this decision. He had said that due to this decision of the Government of India, this crisis will deepen. On the other hand, the Government of India has said on the ban on export of wheat, that apart from meeting the food requirement of neighboring and vulnerable countries, this decision will help in controlling the retail prices of wheat and flour, which have averaged 14 to 20 percent in the last one year. has increased to.
China landed in favor of India
China has come to India’s defense after criticism from agriculture ministers of seven countries. China has said in a statement issued on this whole issue that criticizing developing countries like India cannot end the world’s food problem.
China asked tough questions
In an article published in the Global Times, China questions, ‘Agriculture ministers of G7 countries urge India not to ban wheat exports. So why don’t G7 countries try to stabilize the market supply by increasing their exports. Further in the article, China says, ‘Even though India is the second largest producer of wheat in the world, its share in exports is very less. On the contrary, countries like America, Canada, European Union, Australia are big exporters of wheat.
Wheat prices have increased by 60% this year. Due to which there is a jump in the prices of bread to cake. In Paris, the price of one tonne of wheat has increased to $450 a tonne.