"Ask India to reconsider its wheat export ban as soon as possible": IMF Chief

"Ask India to reconsider its wheat export ban as soon as possible": IMF Chief

International Monetary Fund (IMF) Prime Minister Christalina Georgieva urged India on Tuesday to reconsider its wheat export ban as soon as possible.

“India is grateful for the fact that it needs to feed nearly 1.35 billion people, and also for the heat waves that have reduced agricultural productivity, but more countries. I would like to ask India to reconsider as soon as possible as it enters the export market. If there are restrictions, others will be tempted to do so and become a global community that is not ready to deal with the crisis. It will end up. “

India banned wheat exports earlier this month as the heat wave hit production and government procurement and domestic prices hit record highs.

According to the Department of Agriculture, the world’s second-largest wheat producer could harvest 164.1 million tonnes in 2022, nearly 4.4 percent lower than previously estimated.

The international supply of wheat is also affected by Russia’s invasion of Ukraine. This is because the two countries jointly account for about 30 percent of the world’s wheat exports.