Kristalina Georgieva, the head of the International Monetary Fund (IMF), has urged India to review its restriction on wheat exports as soon as feasible.
He argued at the World Economic Forum in Davos that by prohibiting exports, other countries will follow suit, leaving the global community unprepared to deal with the situation.
I appreciate India’s desire to feed 1.35 billion people, she stated in an interview with an English website. Although I appreciate that the heatwave has reduced wheat productivity, I urge India to reconsider its decision to limit wheat exports because other nations may follow in India’s footsteps. We will be unable to address the food issue.
When asked how much assistance India will provide if the export limit is lifted, According to Georgieva, the supply of wheat has been harmed as a result of the war between Russia and Ukraine. It all depends on how much and to which countries India can export. Wheat exports to Egypt and Lebanon, for example, could have a big influence because they are among the nations that have been hardest hit by supply shortages. Not only are Egypt and Lebanon in danger of hunger, but civil instability might spread, threatening world stability.
India, the world’s second-largest wheat producer after China, prohibited wheat exports on May 13 with immediate effect. Due to the heatwave impacting wheat output and prices reaching record highs, India made this choice to maintain food security in the country.
A heatwave in India severely harmed wheat production in March. Meanwhile, G7 agriculture ministers have slammed India’s decision to limit wheat exports.
“If everyone restricts exports or closes the market, the situation will intensify,” Germany’s Agriculture Minister Sam Ozdemir stated. We implore India to live up to its G20 membership responsibilities.
Wheat supply has been impacted by the Russia-Ukraine conflict, which began in February and has impacted global prices.
During his visit to Germany, Prime Minister Narendra Modi addressed the global wheat shortfall and stated that Indian farmers have stepped forward to feed the world. India has always found a way to resolve any humanitarian issue.
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