India Wheat Export Curb to Be Less Explosive Than Prices Suggest
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India’s wheat export restrictions created some high-octane headlines and triggered a price surge, but details might prove less explosive.
The country prohibited wheat exports, citing food security risks after a record heat wave slashed production and drove up prices. India will continue to make grain available to nations at the request of their governments, while shipments for which irrevocable letters of credit have been issued will also be allowed.