India, the second-largest producer of wheat, has banned exports of the commodity, due to a risk to its food security. Global wheat prices have increased by more than 40% since the beginning of the year.

A Friday notice in the government gazette signed by Santosh Kumar Sarangi, the Director General of Foreign Trade, said that a "sudden spike" in the global prices of wheat was putting India, neighboring and other vulnerable countries at risk.

India's wheat harvest has suffered from record-breaking heat and its own stocks have been strained by the distribution of free grain during the COVID-19 pandemic. Other countries are also grappling with poor harvests that hinder their ability to help offset shortfalls due to Russia's war in Ukraine.

The export of wheat will be allowed in case of shipments where an Irrevocable Letter of Credit (ICLC) had been issued on or before the date of the notice and "on the basis of permission granted by the Government of India to other countries to meet their food security needs and based on the request of their governments."