India bans wheat exports, which could impact the world price of wheat

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India has banned the export of wheat. A heat wave limited production and domestic prices rose sharply. This threatens food security in India, authorities say. This decision could further push up the price of wheat on the world market.

India’s ban is notable as the country previously said it was counting on record wheat exports.

The world market could well have used Indian grain this year. Export from Ukraine is hardly possible due to the war in this country. The United States and France are also struggling with weather conditions that make it difficult to grow the important grain.

Wheat concerns are driving up bread prices, among other things. In the Netherlands, bread and cereals were almost 6% more expensive last month than a year earlier, according to figures from Statistics Netherlands. But the poorest countries and populations in Africa and Asia are particularly hard hit by rising food prices.

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