MUMBAI, INDIA — India approved a policy on Aug. 25 to restrict wheat flour exports in the hopes of calming prices on the local market, Reuters reported.
Wheat exports were banned in mid-May due to a heatwave that hurt output and pushed domestic prices to a record high. In July, India asked traders to get permission before exporting flour.
The wheat export ban increased demand for Indian flour and those exports increased 200% from April-July compared to a year ago and increased prices on the local market, Reuters reported.
