The UAE’s ministry of economy announced on Wednesday that it has imposed a four-month suspension of Indian Wheat Exports, which include wheat and wheat flour exports and re-exports from India.
The action comes after India banned wheat exports last month to combat rising domestic prices.
The development comes after India banned wheat exports last month to combat rising domestic prices. This prevents Indian wheat from being rooted in third-world countries via the UAE.
The embargo, dubbed a’moratorium’ by the UAE ministry, went into effect on May 13 “in light of international circumstances that have impacted trade flows.”
India restricted wheat exports on May 14 except for those supported by letters of credit (LCs) already issued and to countries striving to ensure food security. It has approved the export of 469,202 tonnes of wheat since then.
The United Arab Emirates Ministry of Economy said the ban “applies to all wheat varieties namely hard, ordinary and soft wheat and wheat flour.” In a statement said a moratorium has been imposed “on the export and re-export of wheat and wheat flour originating from the Republic of India, including free zones, for a period of four months starting from May 13, 2022.”
This “decision comes in view of the international developments that have affected trade flows, and in appreciation of the solid and strategic relations that bind the UAE and India, especially after the signing of the Comprehensive Economic Partnership Agreement between the two countries and the Indian government’s approval to export wheat to the UAE for domestic consumption.”
India and UAE had in February signed the Comprehensive Economic Partnership Trade Agreement (CEPA) to cut all tariffs on each other’s goods and aims to increase their annual trade to USD 100 billion within five years.
The agreement came into effect on May 1
UAE Ban of Indian Wheat Exports include all varieties of wheat
“However, companies wishing to export/re-export wheat and wheat flour varieties of Indian origin, which were imported into the country before May 13, 2022, must submit a request to the Ministry to obtain permission to export outside of the UAE,” the Ministry said.
They must submit all documents and files that help verify the data regarding the shipment in terms of its origin, date of transaction, and any other documents that the Ministry may require.
The Ministry also indicated that in the case of wheat and wheat flour products of non-Indian origin, companies wishing to export/re-export it may do so after applying to the Ministry for export permission outside the country.
This application must also be supported by all documents and files that help verify the origin of the shipment to be exported/re-exported.
The Ministry noted that the export permit issued to companies is valid for 30 days from the date of issuance and must be submitted to the relevant customs department in order to complete the procedures for exporting the shipment out of the UAE.
