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Exports of Indian wheat to the UAE will be halted for four months:Report

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Exports of Indian wheat to the UAE will be halted for four months:Report

According to the statement, companies intending to export or re-export Indian wheat must first apply to the ministry.

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According to state news agency WAM, the United Arab Emirates (UAE) has placed a four-month ban on wheat and wheat flour exports and re-exports from India, the world’s second-largest producer of the grain.

The UAE’s economy ministry said the move was motivated by disruptions in global trade flows but that India had permitted wheat exports to the UAE for local consumption.

On May 14, India banned wheat exports, except those guaranteed by letters of credit (LCs) and to countries striving to assure food security. It has approved the export of 469,202 tonnes of wheat since then.

Companies intending to export or re-export Indian wheat brought into the UAE before May 13, when India’s embargo took effect, must apply to the economy ministry, according to a statement.

In February, the UAE and India struck a comprehensive trade and investment agreement to lower all tariffs on each other’s goods and increase annual business to $100 billion in five years.

The Comprehensive Economic Partnership Trade Agreement (CEPA), as it is known, went into effect on May 1.

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