DREAM / The Prime Minister resigns and wakes up under the Parisian bridge!

 Kliko këtu për të tjera
Voxpress:

India embargo raises price of wheat in global markets

2022-05-16 17:02:27Biznes SHKRUAR NGA REDAKSIA VOX

 

India's decision, the world's second largest wheat producer, to indefinitely ban the export of this product was immediately reflected in international markets.

The price of wheat rose 6 percent in the U.S., capturing the all-time high.

The export ban comes after a heat wave hit India's wheat harvest, bringing domestic prices to a record high.

The cost of each by-product, from bread and sweets to patas and pasta, has increased in recent months and this Decision of India is expected to give it another wave of growth..

India's government said it would respect current contracts with countries and companies "to meet their food security needs".

Government officials also said the ban was not permanent and could be reviewed at a second moment.

However, the decision has been criticised by agriculture ministers from the G7 who met in Germany.

"If everyone starts to impose export restrictions, or close markets, it would worsen the crisis" said German Food and Agriculture Minister Cem Ozdemir.

The G7 is an organisation of the seven largest economies in the world so-called "advanced", which dominate global trade and the international financial system. They are Canada, France, Germany, Italy, Japan, Great Britain and the United States.

Although India is the world's second largest producer of wheat, it has not previously been a major exporter as most of its crops are sold on the domestic market.

But, Ukraine's wheat exports fell after the Russian invasion, and with droughts and floods threatening the crops of other major producers, markets expected some of the shortage to be offset by India.

 


Në përputhje me standarded JTI

Video

SHIKO KANALIN NE YOUTUBE
×