India's Wheat Export Ban, a shrewd piece of business

Just a quick update on the ban of wheat exports from India. They said that anyone who has a current agreement with India for exploitation of, or for importation of wheat, that agreement will be honored. They'll still sell wheat if they decide to. So what's the point of the announcement that you're not gonna sell wheat anymore, that you're not gonna export wheat anymore? What's the point of the announcement of the ban except to jack up global prices?

Wheat was trading on the global markets as of Friday at around, 1,170 something. Today, it's trading at 12 thirty or 12:40. So the price has gone up because of India's announcement. That's the only thing that was, that was accomplished by the announcement. That's the only thing.

Because they're still saying, well, we'll still sell if you really need it. And most of the countries that are ex that are importing from India were not previously importing from India. They were only doing it because wheat wasn't available from Ukraine anymore or Russia, because India wasn't historically a big exporter of wheat. So most of the countries that are gonna be affected by this are people that have short term agreements with India for importing wheat. So those agreements are gonna expire, and then they're gonna have to renew those agreements or seek the renewal of those, deals, but at a new price, at the higher price, the price that has gone higher specifically and precisely because India announced a ban that it isn't actually doing.

That's business. That's tricky, but it's business. But this is because in and I'm not criticizing India. All you Indians that last time went got triggered by what I said, I'm not criticizing India. You have to do what you have to do because America is creating a global food crisis.

So everybody has to do what they have to do. You have to take care of your domestic population, and you have to find any way and every way to increase revenues for your country because there's a global economic crisis going on. But the point here is falsely claiming to do a ban so that they could jack up the price while still saying, but we will still sell if you really need it. Now, of course, when you really need it, of course, you're gonna be willing to pay the higher price, and the higher price is guaranteed because they announced a ban. By the way, those of you in Malaysia and Indonesia that think that you don't aren't aren't gonna be affected by a shortage of wheat because you eat rice?

Yeah. Have you heard of endumi? Do you know what the noodles are made of? Number one ingredient is wheat flour. Not to mention, you don't feed rice to your livestock.

Of course, you're gonna be affected.