UAE Suspends the Export of Wheat for Four Months

Share Us

464
UAE Suspends the Export of Wheat for Four Months
16 Jun 2022
min read

News Synopsis

The United Arab Emirates (UAE) has taken a big decision of not to take wheat and wheat flour from India. He has issued an order for four months suspension in export and re-export. This information has been shared on Wednesday in a report. 

According to the information, the Ministry of Economy of the gulf country has stated the reason behind this decision in the global trade flows. It has been reported from the ministry that India had approved the export of wheat to the United Arab Emirates (UAE) for domestic consumption

According to the report, companies wishing to export or re-export Indian wheat brought to UAE before May 13 will have to apply to the Ministry of Economy. Whereas, in this notification issued by Directorate General of Foreign Trade (DGFT), in this notification issued on 13 May, it has been issued for which irreversible debt letters Irrevocable Line of Credit (LOCs) have been released. 

It is worth noting that India is the second-largest grain producer in the world, India had stopped wheat export expenses with immediate effect under measures to control domestic prices.

TWN In-Focus