# ITC's Puri hopes food export bans are short-lived once supply stabilises | Company News - Business Standard

> ITC chairman Sanjiv Puri said India's bans on wheat and rice exports should be short-lived once domestic food supply stabilises. ITC's agriculture business revenue fell 25% in the April-June quarter because of the export bans. He also flagged El Niño as a key risk to monitor.

- Date: 2023-08-29 · published 2023-08-29T12:00:00.000Z
- Category: policy · region India · magnitude low
- Page: https://feedsoft.ai/events/34535-itc-s-puri-hopes-food-export-bans-are-short-lived-once-supply-stabilises
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

The comments signal that the bans may not be permanent, which could eventually add supply back to wheat and rice export markets. Until then, the restrictions continue to support global prices.

## Read by commodity

- RICE: neutral
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-08-28 | [Central govt's restrictions on rice exports puts wheat and sugar in focus \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/34529-central-govt-s-restrictions-on-rice-exports-puts-wheat-and-sugar-in-focus.md) | -4.7% | -1.9% |
| WHEAT | 2024-06-24 | [Centre imposes stock holding limit on wheat; says no shortage anywhere \| Agriculture - Business Standard](https://feedsoft.ai/events/29725-centre-imposes-stock-holding-limit-on-wheat-says-no-shortage-anywhere.md) | -6.8% | -2.9% |
| WHEAT | 2026-07-28 | [US, Japan urge India to address export restrictions in farm sector \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/18288-us-japan-urge-india-to-address-export-restrictions-in-farm-sector-economy-and.md) | -1.0% | +2.3% |
| WHEAT | 2021-11-17 | [India to pitch for permanent solution for food security in WTO meet \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/44023-india-to-pitch-for-permanent-solution-for-food-security-in-wto-meet-economy-and.md) | +1.3% | -7.4% |
| WHEAT | 2018-12-06 | [CCEA approves agriculture export policy: No curbs on shipment of processed, organic items \| Business News - The Indian Express](https://feedsoft.ai/events/61536-ccea-approves-agriculture-export-policy-no-curbs-on-shipment-of-processed.md) | -0.1% | +1.5% |
| RICE | 2018-06-24 | [India pares restriction-free food exports to Maldives amid tension in ties \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/64487-india-pares-restriction-free-food-exports-to-maldives-amid-tension-in-ties.md) | -7.9% | -4.8% |
| RICE | 2026-07-28 | [US, Japan urge India to address export restrictions in farm sector \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/18288-us-japan-urge-india-to-address-export-restrictions-in-farm-sector-economy-and.md) | +3.9% | +6.6% |
| RICE | 2020-08-01 | [Tweak FCI's procurement strategies to boost rice exports: Expert panel \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/51564-tweak-fci-s-procurement-strategies-to-boost-rice-exports-expert-panel-economy.md) | -0.6% | +6.3% |

## Sources

- business-standard.com: https://www.business-standard.com/companies/news/itc-s-puri-hopes-food-export-bans-are-short-lived-once-supply-stabilises-123082900315_1.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.