Wheat export ban: India will fulfil all its commitments, Union Min Hardeep Puri on G-7 criticism

India on Friday banned exports of wheat to check the rising domestic prices. Soon after the announcement, Group of Seven (G7) industrialised nations' said India's move to restrict wheat exports "would worsen the crisis" of rising commodity prices.

New Delhi: Addressing the discomfort expressed by G-7 nations about its recent ‘Wheat Exports ban’, Union Minister Hardeep Puri said India will fulfil all its commitment to vulnerable countries and won’t abandon the neighbours who depend on India for their food supplies. In a Twitter post on Saturday,  Union Minister Hardeep Singh Puri said the country's wheat stocks are at a "comfortable" level and will be used to fulfil all the prior export demands as well as the domestic need.

“Wheat stocks are comfortable. The decision to restrict wheat exports was taken with a focus on India’s food security, ensuring affordable foodgrains & combat market speculation. India, a reliable supplier will fulfil all commitments including needs of neighbours & vulnerable countries,” wrote Puri on Twitter.

Wheat stocks are comfortable. Decision to restrict wheat exports taken with focus on India’s food security, ensuring affordable foodgrains & to combat market speculation. India, a reliable supplier will fulfil all commitments including needs of neighbours & vulnerable countries. — Hardeep Singh Puri (@HardeepSPuri) May 14, 2022

The remark came just hours after the Centre declared that it had halted the export of wheat to check the rising domestic prices and demand in India. Soon after the announcement, Group of Seven (G7) industrialised nations' agriculture ministers meeting in Germany said India's move to restrict wheat exports "would worsen the crisis" of rising commodity prices.

However, India has assured that it will fulfil all its export commitments.

Why has India banned wheat exports?

The reason for the ban on wheat exports is to ensure food security of our citizens and ensure adequate food supply to the public distribution system and also ensure that we are able to direct food supplies to vulnerable food-deficit countries, said government secretaries of three departments of Food and public distribution Sudhanshu Pandey, Commerce Secretary BVR Subrahmanian and Agriculture Secretary Manoj Ahuja.

"I want to clarify it, again and again, it`s not a ban on the wheat exports to meet the food security requirements of other countries, even our own security requirements, and prevent this speculative wheat trading we took this step," he added.

"We have enough stocks available of wheat. We have almost 657 metric tonnes of wheat and rice. We can expect prices to come down very soon because all this wheat and crop is available in the market," he added.