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Reuters

Wheat importers in Asia scramble for supplies after Indian export ban

Wheat importers in Asia were scrambling to find new sources of supply on Monday after India banned exports of the grain at the weekend in a bid to keep a lid on soaring domestic prices, trade sources told Reuters. Importers, especially those in Asia, were banking on wheat from India, the world’s second-biggest producer, after exports from the Black Sea region plunged following Russia’s Feb. 24 invasion of Ukraine. Ukraine’s exports are severely hampered because the war has forced it to close its ports, while Russia’s exports have been hit by Western sanctions.

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