India one of the largest supplier of wheat imposed ban of export of wheat. This is a very sensitive move by India which can create international food crises.
America and Europe already looking forward for an alternative source to prevent food crises in their countries. “That’s something which is very much of concern,” Valdis
Dombrovskis, the EU’s trade chief, told CNBC Sunday about these new export
measures.
The ongoing Russia Ukraine crises made the nations thinks for the protection of their food supplies and security of basic needs for the population of their nation. The Foreign Minister of G-7 countries warned that the War between Russia and Ukraine is increasing the risk of global hunger crises. Ukraine is unable to export anything due to the current crises which creates the shortage of fertilizers, vegetables and grains.
India made it clear by restricting the export of wheat that their first priority is to protect the rights of their people and to prevent possibility of hunger crises in their country but it may effect the shortage of wheat on other parts of the world being the 2nd biggest supplier of wheat in the World.
The G-20 members of the World are condemning the India's decision and ask India to take responsibility if the global hunger crises began in the future.
“If everyone starts to impose export restrictions or to close markets, that would worsen the crisis,” German agriculture Minister Cem Ozdemir said at a news conference in Stuttgart.“We call on India to assume its responsibility as a G20 member,” Ozdemir said.
It may also lead to a rise in the prices of wheat in the International market which could effect the economic crises in several countries especially under developed nations of Africa and others.
India's Government officials said that unregulated exports had led to a rise in local prices for the grain. “We don’t want wheat trade to happen in an unregulated manner or hoarding to happen,” commerce secretary BVR Subrahmanyam told reporters in New Delhi.
Comments
Post a Comment