Latest News | DGFT Issued RCs for Export of 1.5 Million Tonnes of Wheat After May 13 Ban Order

New Delhi, May 27 (PTI) The commerce ministry's arm DGFT has issued registration certificates for 1.5 million tonnes of wheat to exporters having valid letter of credit, after the ban order of May 13, an official said.

The government is allowing wheat shipments for which irrevocable letters of credit (L/C) were issued on or before May 13, when the ban on the export of the foodgrain was imposed.

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Exporters having valid L/Cs would have to register with the Regional Authorities (RAs) of the Directorate General of Foreign Trade (DGFT) to obtain registration of contracts (RCs) to ship their consignments.

"RCs for 1.5 million tonnes have been issued so far," DGFT Santosh Kumar Sarangi said, adding some applications are pending, which are being scrutinised.

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India's wheat exports stood at 7 million tonnes, valued at USD 2.05 billion, in 2021-22 fiscal on better demand for Indian wheat from overseas.

Of the total wheat exports, around 50 per cent of shipments were exported to Bangladesh in the last fiscal.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)