UAE Suspend Exports Of Indian Wheat For 4 Months

By THOUSIF EXIM

The United Arab Emirates has ordered a four-month export suspension and re-exports of wheat.

Moreover, on Wednesday, wheat flour originates from India,

The world's second-biggest grain producer, state news agency WAM said.

The Gulf nation's economy ministry cited interruptions to global trade flows as the reason for its move.

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

India banned wheat exports in a surprise move on May 14,

Except those backed by already issued letters of credit and countries seeking to ensure food security.

Since then, it has allowed shipments of 469,202 tonnes of wheat.

Companies wishing to export or re-export Indian wheat brought into the UAE before May 13,

When India's suspension began, it must first apply to the economy ministry, it said in a statement.

IN FEBRUARY, the UAE and India signed a broad trade and investment pact.

It seeks to cut all tariffs on each other's goods and aims to increase its annual trade to $100 billion within five years.

The Comprehensive Economic Partnership Trade Agreement (CEPA) pact took effect on May 1.

THOUSIF - EXIM Imports and Exports a wide range of products worldwide.

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