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The Indian authorities on Tuesday allowed the import of recent and chilled potatoes from Bhutan with none license as much as June 2023. In keeping with a notification by the Directorate Normal of Overseas Commerce (DGFT), import of potatoes from Bhutan is permitted freely with none license as much as June 30″.
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Individually, the commerce ministry’s arm DGFT has issued registration certificates for about 1.6 million tonne of wheat to exporters having a sound letter of credit score, after the ban order of Could 13.
The federal government is permitting wheat shipments for which irrevocable letters of credit score (L/C) had been issued on or earlier than Could 13, when the ban on the export of the foodgrain was imposed with the purpose to comprise rising costs.
Warfare between Russia and Ukraine has severely impacted the move of wheat within the world markets as they’re key gamers within the sector. Russia and Ukraine collectively account for nearly 1 / 4 of the worldwide wheat provide.
Exporters having legitimate L/Cs must register with the Regional Authorities of the Directorate Normal of Overseas Commerce (DGFT) to acquire registration of contracts (RCs) to ship their consignments.
“RCs for about 1.6 million tonne have been issued thus far,” the official stated including as Russia has began exports of wheat by means of Turkey, costs within the world markets might stabilise.
India’s wheat exports stood at 7 million tonne, valued at USD 2.05 billion, in 2021-22 on higher demand for the Indian wheat from abroad.
Of the full wheat exports, round 50 per cent of shipments had been exported to Bangladesh in final fiscal yr.
The highest ten importing international locations for the Indian wheat in 2020-21 had been Bangladesh, Nepal, the United Arab Emirates, Sri Lanka, Yemen, Afghanistan, Qatar, Indonesia, Oman and Malaysia.
India accounts for lower than 1 per cent of the world wheat export. It’s the second-largest producer of wheat. It had contributed round 14 per cent of the world’s complete manufacturing in 2020.
India produces round 107.59 million tonne of wheat yearly, whereas a significant chunk of it goes in the direction of home consumption. Main wheat rising states in India are Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, Rajasthan, Bihar and Gujarat.
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