┬áBan effective May 13 Surprise move puts 2-3 mil mt of wheat supply at stake Traders expect India’s prices to drop India placed a ban on exports as of May 13, blocking a huge supply from the markets at a time when global supply was already falling after Russia’s invasion of Ukraine. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The Indian government restricted wheat exports to rein in domestic prices of the food grain, according to a May 14 notice from the Directorate General of Foreign Trade. The ban excludes shipments with an irrevocable letter of credit issued on or before May 13. The Russia-Ukraine conflict squeezed out a major chunk of supplies from the Black Sea region, leaving open a wide supply gap, a situation that Indian traders earlier were looking to bank on as they expected elevated exports in the […]