Muristek
New Delhi, May 31
The government has imposed a stricter process of physical verification of all letters of credit to ensure full compliance of its May 13 order restricting wheat exports.
The latest order from the Directorate General of Foreign Trade has directed the regional authorities to "physically verify" all documents regarding the export of wheat before issuing registration certificates (RC).
The order has been issued to ensure that the exporters are not issued RCs based on improper documents, officials said, adding it was feared that "unscrupulous elements would forge letters of credit to show validity and continue to export wheat".
In its May 13 order, the Ministry of Commerce and Trade had "restricted wheat exports to manage the overall food security situation and support the needs of neighbouring and vulnerable countries that are adversely affected by sudden changes in the global market for wheat and unable to access adequate wheat supplies".