India's Commerce Minister Piyush Goyal at the World Economic Forum 2022 in Davos, Switzerland. Reuters
India's Commerce Minister Piyush Goyal at the World Economic Forum 2022 in Davos, Switzerland. Reuters
India's Commerce Minister Piyush Goyal at the World Economic Forum 2022 in Davos, Switzerland. Reuters
India's Commerce Minister Piyush Goyal at the World Economic Forum 2022 in Davos, Switzerland. Reuters

India has no plans to end ban on wheat exports


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India will keep its ban on wheat exports to ensure stability in the local market and curb unscrupulous global hoarding, Commerce Minister Piyush Goyal said.

The ongoing Russia-Ukraine war may lead to hoarding and prove disastrous for poorer countries, he said on the sidelines of the World Economic Forum in Davos, Switzerland.

Should India lift the ban, "it would only help black marketeers, hoarders and speculators," Mr Goyal was quoted by Reuters as saying. "Lifting the ban would not help the poor countries.”

Also, India’s exports are less than one per cent of the world's total wheat trade and the ban would not affect global markets, Mr Goyal was cited by India's Press Information Bureau as saying.

“Our export regulation should not affect global markets," Mr Goyal said. "We will continue to allow exports to vulnerable countries and neighbours.”

The statement comes a day after the International Monetary Fund’s chief Kristalina Georgieva appealed to the South Asian nation to reconsider its ban, saying the nation plays a crucial role in global food security and stability.

Several wheat-importing countries, including the G7 nations, have criticised India’s decision to ban wheat sales and asked the country to “assume its responsibility”.

India, which accounts for about 13 per cent of global wheat, is the biggest wheat producer after China but exports small quantities of the grain.

Last month, India said it would increase exports to meet the global wheat shortage as the war had disrupted the grain supply chain.

  • 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.

Prime Minister Narendra Modi offered help to plug shortages and promised to “feed the world” during his visit to European nations.

But in mid-May, the government imposed the ban after a severe heatwave resulted in crop damage and raised fears of a domestic shortage.

While India was initially expected to produce more than 111 million tonnes of wheat this year, the harvest is now estimated to reach about 106 million tonnes, according to the agriculture ministry.

Russia and Ukraine together account for about a quarter of the global wheat production.

UAE currency: the story behind the money in your pockets
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Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

The specs

Engine: 2.0-litre four-cylinder turbo

Power: 178hp at 5,500rpm

Torque: 280Nm at 1,350-4,200rpm

Transmission: seven-speed dual-clutch auto

Price: from Dh209,000 

On sale: now

EA Sports FC 26

Publisher: EA Sports

Consoles: PC, PlayStation 4/5, Xbox Series X/S

Rating: 3/5

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Our legal consultant

Name: Hassan Mohsen Elhais

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

THE SIXTH SENSE

Starring: Bruce Willis, Toni Collette, Hayley Joel Osment

Director: M. Night Shyamalan

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Liverpool's all-time goalscorers

Ian Rush 346
Roger Hunt 285
Mohamed Salah 250
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Saturday's results

Women's third round

  • 14-Garbine Muguruza Blanco (Spain) beat Sorana Cirstea (Romania) 6-2, 6-2
  • Magdalena Rybarikova (Slovakia) beat Lesia Tsurenko (Ukraine) 6-2, 6-1
  • 7-Svetlana Kuznetsova (Russia) beat Polona Hercog (Slovenia) 6-4. 6-0
  • Coco Vandeweghe (USA) beat Alison Riske (USA) 6-2, 6-4
  •  9-Agnieszka Radwanska (Poland) beat 19-Timea Bacsinszky (Switzerland) 3-6, 6-4, 6-1
  • Petra Martic (Croatia) beat Zarina Diyas (Kazakhstan) 7-6, 6-1
  • Magdalena Rybarikova (Slovakia) beat Lesia Tsurenko (Ukraine) 6-2, 6-1
  • 7-Svetlana Kuznetsova (Russia) beat Polona Hercog (Slovenia) 6-4, 6-0

Men's third round

  • 13-Grigor Dimitrov (Bulgaria) beat Dudi Sela (Israel) 6-1, 6-1 -- retired
  • Sam Queery (United States) beat Jo-Wilfried Tsonga (France) 6-2, 3-6, 7-6, 1-6, 7-5
  • 6-Milos Raonic (Canada) beat 25-Albert Ramos (Spain) 7-6, 6-4, 7-5
  • 10-Alexander Zverev (Germany) beat Sebastian Ofner (Austria) 6-4, 6-4, 6-2
  • 11-Tomas Berdych (Czech Republic) beat David Ferrer (Spain) 6-3, 6-4, 6-3
  • Adrian Mannarino (France) beat 15-Gael Monfils (France) 7-6, 4-6, 5-7, 6-3, 6-2
The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

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Company info

Company name: Entrupy 

Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist

Based: New York, New York

Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.  

Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius. 

Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place. 

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
List of alleged parties

 May 15 2020: PM and Carrie attend 'work meeting' with at
least 17 staff members

May 20 2020: PM and Carrie attend 'bring your own booze'
party

Nov 27 2020: PM gives speech at leaving do for his staff

Dec 10 2020: Staff party held by then-education secretary
Gavin Williamson

Dec 13 2020: PM and Carrie throw a flat party

Dec 14 2020: London mayor candidate Shaun Bailey holds staff party at Conservative
Party headquarters

Dec 15 2020: PM takes part in a staff quiz

Dec 18 2020: Downing Street Christmas party

Updated: May 26, 2022, 10:20 AM