By : Sanat Sari Saren.
A farmer harvesting wheat in a field in Gurdaspur, Punjab Photo Source : Aaj Tak News
India, the second largest contributor of wheat to the global food market, has suspended the export of wheat amidst world food supply concerns.
A government notice issued on Friday, signed by the Director General of Foreign Trade, Santosh Kumar Sarangi said
“that sudden fluctuations in the global market prices of Wheat was putting India and its neighboring countries at risk.
world food supply .The director also said that wheat export will be allowed to continue,but only in case of shipments where an Irrevocable Letter of Credit (ICLC) has been issued on or before the date of the notice.
India is the second largest exporter of wheat in the world, but still consumes most of the wheat it produces yearly.
Due to the war situation in Ukraine and other issues such as the food credit to Sri Lanka and Ethiopia, India’s own supplies were under threat.
With many expecting severe economic recession’s to accompany the already worsening climate change, agriculture oriented nations will suffer the most.
Nations like Indonesia, Thailand and Philippines reported loss of crops due to extreme heat wave like conditions, similar to the conditions seen in India.
Photo Source : The Guardian
India’s wheat supply is also affected due to the free distribution of wheat during the Covid-19 pandemic wave’s in the country.
Conclusion.
With the Ukraine Conflict raging on in Europe, world food supply is undergoing a detrimental effect.
With the inflation in prices of basic food supplies and other necessities, many agriculturally stable nations like India will get approached by other neighboring countries.
As more and more countries suffer in the face of low harvests, few will be able to help the shortcomings of food and security across the world. world food supply.
Photo Source : Reuters.
United Nations Food and Agricultural Organization also reported 40% increase in the global prices of wheat since the beginning of the year.
Earlier this month FAO also cut down it’s projections of world wheat production in 2022 from 184 million tonnes to 182 million.
With the lessening of world food supply reserves, the possibility of starvation and draught is at hand for many countries already.
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