UAE Suspend Indian Wheat Exports

UAE Suspends Wheat Exports from India amid Global Trade Disruptions

The United Arab Emirates (UAE) has announced a four-month suspension on exports and re-exports of wheat from India.

The move was announced by the UAE’s economy ministry, which cited disruptions to global trade flows as the reason for the suspension.

India had previously approved wheat exports to the UAE for domestic consumption.

However, in a surprise move on May 14, it instituted a ban on wheat exports, with exceptions for countries seeking to ensure food security and those backed by already issued letters of credit.

Since the ban, India has allowed shipments of 469,202 tonnes of wheat.

Companies looking to export or re-export Indian wheat brought into the UAE before May 13, when India’s suspension began, must now apply to the UAE economy ministry for approval.

In February, the UAE and India signed a Comprehensive Economic Partnership Trade Agreement (CEPA) pact, which seeks to cut tariffs on each other’s goods and aims to increase annual trade between the two countries to $100 billion within five years. The pact took effect on May 1.

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