IMF managing director Kristalina Georgieva appealed to India to reconsider its ban on wheat exports. AFP
IMF managing director Kristalina Georgieva appealed to India to reconsider its ban on wheat exports. AFP
IMF managing director Kristalina Georgieva appealed to India to reconsider its ban on wheat exports. AFP
IMF managing director Kristalina Georgieva appealed to India to reconsider its ban on wheat exports. AFP

World

Asia

IMF chief appeals to India to reconsider wheat export ban during global food crisis

The South Asian nation is the world's largest wheat producer after China

Taniya Dutta
Taniya Dutta
New Delhi

May 25, 2022

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International Monetary Fund chief Kristalina Georgieva on Tuesday pleaded with India to reconsider its decision to ban wheat exports, given the South Asian nation's crucial role in ensuring global food security and stability.

“I do have appreciation for the heatwave that has reduced agricultural productivity, but I would beg India to reconsider as soon as possible because the more countries step into export restrictions, the more others would be tempted to do so,” Ms Georgieva told India's NDTV channel at the World Economic Forum in Davos in Switzerland. “We would end up as a global community less equipped to deal with the crisis.”

Read more

Could India's U-turn on wheat exports threaten its global trade ambitions?

While India, in the wake of the Russia-Ukraine war, had planned to increase exports to meet the global wheat shortage, in mid-May it imposed a ban on overseas shipments of the grain after a severe heatwave resulted in crop damage and raised fears of a domestic shortage.

It did, however, exempt government-to-government deals.

India is the world's biggest wheat producer after China but exports only small quantities of the grain.

Last year, India produced 109 million tonnes of wheat with exports reaching seven million tonnes.

A baker holds up a seeded white loaf of bread at a bakery in Beirut, Lebanon, which faces a food crisis because of war in Europe. All photos: Bloomberg
A baker holds up a seeded white loaf of bread at a bakery in Beirut, Lebanon, which faces a food crisis because of war in Europe. All photos: Bloomberg
A worker opens a sack of flour to prepare bread dough in Beirut. Lebanon's wheat importers are already rationing flour sales to counter panic buying.
A worker opens a sack of flour to prepare bread dough in Beirut. Lebanon's wheat importers are already rationing flour sales to counter panic buying.
Lebanon, already suffering from years of financial crisis, has faced new problems since Russia invaded Ukraine in February.
Lebanon, already suffering from years of financial crisis, has faced new problems since Russia invaded Ukraine in February.
Lebanon normally buys 96 per cent of its wheat from Russia and Ukraine.
Lebanon normally buys 96 per cent of its wheat from Russia and Ukraine.
The war between two of the world's biggest wheat exporters has sparked fears of a food crisis in many Middle Eastern countries.
The war between two of the world's biggest wheat exporters has sparked fears of a food crisis in many Middle Eastern countries.
Lebanese importers are struggling to get dollars from a subsidy programme to buy wheat from new suppliers.
Lebanese importers are struggling to get dollars from a subsidy programme to buy wheat from new suppliers.
As countries try to secure new sources of wheat, cash-strapped Lebanon's small market of 6 million people could go without.
As countries try to secure new sources of wheat, cash-strapped Lebanon's small market of 6 million people could go without.
Lebanon lacks grain storage after silos were destroyed in the 2020 Beirut Port blast.
Lebanon lacks grain storage after silos were destroyed in the 2020 Beirut Port blast.
The country needs 50,000 tonnes of wheat to feed its people for a month.
The country needs 50,000 tonnes of wheat to feed its people for a month.
Subsidies keep the price of bread in Lebanon artificially low.
Subsidies keep the price of bread in Lebanon artificially low.
But a loaf now costs on average 10,000 Lebanese pounds, or $0.45, more than six times the price in 2019.
But a loaf now costs on average 10,000 Lebanese pounds, or $0.45, more than six times the price in 2019.
Millers estimate that without subsidies, prices could more than double.
Millers estimate that without subsidies, prices could more than double.
Analysts fear that could cause social unrest in a country where three quarters of the population now live in poverty.
Analysts fear that could cause social unrest in a country where three quarters of the population now live in poverty.

The government was expecting a bumper harvest of 111 million tonnes and planned to export 10 million tonnes, but the intense heat during the harvest season dropped the yield to 106.41 million tonnes, agriculture ministry data showed.

Russia and Ukraine together account for almost a quarter of global wheat production but the war in the region has disrupted supplies, causing a global shortage and an increase in prices.

The global food crisis prompted India on Wednesday to also limit sugar exports to 10 million tonnes this year.

The government said the move was precautionary and aimed at securing supplies and preventing an increase in domestic prices.

The South Asian nation last year was the biggest exporter of sugar after Brazil.

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
While you're here
MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

Famous left-handers

- Marie Curie

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- Albert Einstein

- Jack the Ripper

- Barack Obama

- Helen Keller

- Joan of Arc

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Mohammed bin Zayed Majlis
The alternatives

• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.

• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.

• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.

• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.

• PayPal is probably the best-known online goods payment method - usually used for eBay purchases -  but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.

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9.35pm: Handicap (TB) Dh92,500 (T) 2,000m

States of Passion by Nihad Sirees,
Pushkin Press

While you're here
Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Jiu-jitsu calendar of events for 2017-2018:

August 5:

Round-1 of the President’s Cup in Al Ain.

August 11-13:

Asian Championship in Vietnam.

September 8-9:

Ajman International.

September 16-17

Asian Indoor and Martial Arts Games, Ashgabat.

September 22-24:

IJJF Balkan Junior Open, Montenegro.

September 23-24:

Grand Slam Los Angeles.

September 29:

Round-1 Mother of The Nation Cup.

October 13-14:

Al Ain U18 International.

September 20-21:

Al Ain International.

November 3:

Round-2 Mother of The National Cup.

November 4:

Round-2 President’s Cup.

November 10-12:

Grand Slam Rio de Janeiro.

November 24-26:

World Championship, Columbia.

November 30:

World Beach Championship, Columbia.

December 8-9:

Dubai International.

December 23:

Round-3 President’s Cup, Sharjah.

January 12-13:

Grand Slam Abu Dhabi.

January 26-27:

Fujairah International.

February 3:

Round-4 President’s Cup, Al Dhafra.

February 16-17:

Ras Al Khaimah International.

February 23-24:

The Challenge Championship.

March 10-11:

Grand Slam London.

March 16:

Final Round – Mother of The Nation.

March 17:

Final Round – President’s Cup.

Primera Liga fixtures (all times UAE: 4 GMT)

Friday
Real Sociedad v Villarreal (10.15pm)
Real Betis v Celta Vigo (midnight)
Saturday
Alaves v Barcelona (8.15pm)
Levante v Deportivo La Coruna (10.15pm)
Girona v Malaga (10.15pm)
Las Palmas v Atletico Madrid (12.15am)
Sunday
Espanyol v Leganes (8.15pm)
Eibar v Athletic Bilbao (8.15pm)
Getafe v Sevilla (10.15pm)
Real Madrid v Valencia (10.15pm)

AGUERO'S PREMIER LEAGUE RECORD

Apps: 186
Goals: 127
Assists: 31
Wins: 117
Losses: 33

Updated: May 25, 2022, 12:09 PM`
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