Wheat flour exports jumped after wheat export ban

New Delhi, Jun 7: Exports of wheat flours have witnessed a sudden and unusual spike in the aftermath of the ban on the outbound shipment of wheat, industry sources told FE, indicating that many traders may be using this route to beat the prohibition on the grain’s exports. The spike is likely to alarm the government, which has already tightened its scrutiny of wheat shipments.

 

 

 

Sources in the milling industry said wheat flour exports may have jumped at least 7-8 times sequentially since the wheat export ban was imposed. Usually, monthly exports at this time of the year are about 6,000-8,000 tonnes.

 

 

 

However, the shipments in the month since the ban, which was imposed on May 13, could be at least 60,000-70,000 tonnes, according to the sources.

 

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In value terms, exports of wheat or meslin flour jumped 64% last fiscal from a year before to $247 million, according to the DGCIS data. In contrast, wheat exports had jumped 274% in FY22 to $2.12 billion. To be sure, wheat flour exports are not yet banned or restricted.