The government said India would also allow wheat exports to Egypt in a statement.
The government said it decided that wherever wheat consignments have been handed over to Customs for inspection and registered into their (Customs) systems, either on May 13, 2022, or earlier, they would be permitted to be shipped out.
Banning Wheat Exports
India restricted wheat exports on Saturday, just days after declaring it targeted record shipments of 10 million tonnes this year. A scorching heatwave curtailed production, and domestic prices struck a record high.
The government stated it would only allow exports backed by letters of credit (LCs), or payment guarantees, issued before May 13.
The provision has produced uncertainty. Of the approximately 2.2 million tonnes of wheat at ports or in transit, traders expressed they have LCs for only 400,000 tonnes.
The determination to ban wheat exports also trapped some 1.8 million tonnes of grain at ports, leaving traders encountering heavy losses from the prospect of selling onto a weaker domestic market.
