How will India’s wheat export U-turn affect the world?

On 13th May, the government of India took a decision to prohibit all exports of wheat citing a threat to food security. The ministry of commerce said that they have taken this decision as a result of rising wheat prices because of several factors. India’s retail inflation has reached an 8-yr high in April because of rising food and energy prices. Till March 2022, India had exported upto 7 million tonnes, up by over 200% from the last fiscal year.