Chicago wheat futures fell to their lowest levels in nearly three years this week, but exportable global wheat supplies are expected to approach historic lows by mid-2024, relative to demand.

The Indian Union Minister of Commerce and Trade Mr. Piyush Goyal requested spice exporters of India to explore new potential markets and increase spice exports to $10 billion by 2030. Currently, India is exporting nearly $4 billion worth of spices.

In an official announcement, Egypt decided to continue its ban on the export of sugar for three more months. Earlier in June, Egypt continued the March’s sugar restriction on the export of sugar for three months to meet the domestic needs of the nation.

Amidst the ongoing diplomatic tussle between India and Canada, there have been speculations on the tightened supply of red lentils (Masur Dal) from Canada, as India is the major importer of Canada’s red lentils.

The government of India decided to continue its stock limit decision on tur and urad till December 31st of this year. On September 25, the Food and Consumer Affairs Ministry issued a notification to limit the stocks for wholesalers and big chain retailers from 200 tons to 50 tons.