After India banned wheat exports, G7 nations condemned India’s decision as German agriculture minister Cem Ozdemir said it “would worsen the crisis”
Indian officials had said earlier the wheat ban was implemented due to unregulated exports which had led to increase in prices. The reasons given were runaway inflation and food security in the poor nation of 1.4 billion people. Some parts of India, Commerce Secretary BVR Subrahmanyam said on Sunday, have seen prices in wheat and flour jump 20 to 40 per cent in recent weeks.
Because of the sharp rise in global prices, some farmers were selling to traders and not to the government.
This got the government worried about its buffer stock of almost 20 million tonnes — depleted by the pandemic — needed for handouts to millions of poor families and to avert any possible famine.
“We don’t want wheat to go in an unregulated manner where (wheat) may either get hoarded and is not used for the purpose which we are hoping it will be used for –- which is serving the food requirements of vulnerable nations and vulnerable people,” Subrahmanyam said.
India’s this move to ban wheat exports drew criticism from the Group of Seven (G7) nations saying such steps might be unproductive and worsen the situation of rising commodity prices. German Agriculture Minister Cem Ozdemir at a press conference in Stuttgart said “If everyone starts to impose export restrictions or to close markets, that would worsen the crisis,”. He added “We call on India to assume its responsibility as a G20 member,”.
After the Group of Seven (G7) criticized India for over the decision to regulate the export of wheat, China came to India’s rescue as several Chinese media defended the country saying that blaming developing countries like India won’t solve the global food crisis, reported ANI.
Meanwhile, global wheat prices surged to a new record high on Monday after India decided to ban exports of the commodity. The price jumped to 435 Euros ($453) per tones as the European market opened, reported AFP.
Talking about the availability of wheat, Commerce secretary Subrahmanyam said, “Apart from the food security of India, the Government is committed to ensuring food security of neighbors and vulnerable countries,”
