S Jaishankar explains why India banned wheat exports

The External Affairs Minister defended and justified the recent move to curtail wheat exports. He said Indian wheat was stocked and it was used for speculative trading. "Low-income countries, many of whom are traditional buyers like our neighbours Bangladesh, Sri Lanka, interestingly Gulf, buy from us regularly. Yemen buys from us, Sudan buys from us, what we saw was low-income buyers were squeezed out, wheat was actually being stocked for being traded, so our goodwill was being used for speculation. We have to do something to stop that because it was also affecting us as home prices were going up," he said. Subscribe to The Times of India's YouTube channel: http://goo.gl/WgIatu For daily news & updates and exclusive stories, follow the Times of India Facebook: www.facebook.com/Timesofindia Instagram: www.instagram.com/timesofindia Follow TOI+ for well-researched and in-depth news and analysis Facebook: www.facebook.com/timesofindiaplus Twitter: www.twitter.com/TOIPlus Instagram: www.instagram.com/toi_plus