India says it is Unfair to blame Wheat Inflation on Export Curbs

India informed the World Trade Organization (WTO) on Friday that blaming its wheat export restrictions for the rise in world prices is unfair, and that member countries should stop "naming and shaming" it. New Delhi said it limited wheat exports for the sake of domestic food security during an informal discussion on agriculture, and requested WTO members to examine export statistics from the previous four to five months to determine who the key wheat exporters and contractors were.

A Geneva-based official said, "India said it is not fair to blame its export restriction on wheat for the surge in global prices to $450 per tonne from $325 per tonne.".

India has come under criticism for restricting wheat exports. To control price rises, the Directorate General of Foreign Trade issued a notification last week banning wheat exports with immediate effect but later eased the restriction to allow shipments of wheat consignments that were registered with the customs authority before the wheat export ban took effect on May 13.

India stated at the WTO meeting that there is no global supply shortfall and that price increases are the result of speculation by a few merchants, according to officials.