The ICC Banking Commission conducted its final meeting of 2024 virtually via Teams on 20-21 November. Four separate portions of the event open to Banking Commission members and ICC National Committee representatives took place.
In spite of government restrictions imposed in May 2022, wheat exports have since doubled due to pre-existing orders, the impact of the Russia-Ukraine war, and demand from countries that previously did not buy wheat from India, according Commerce Ministry sources as reported by India’s The Print.
One export official contends that government-to-government contracts already in place with LCs issued prior to the restrictions is the major reason for the spike.
