India could soon allow wheat exports of 1.2 million tonnes: Report

New Delhi banned wheat exports in a surprise move on May 14, but said it would allow overseas shipments backed by already issued letters of credit and to countries that request supplies

India could soon allow traders to ship out around 1.2 million tonnes of wheat as it seeks to clear cargoes stuck at ports since last month's sudden ban of exports of the grain, government and trade sources said on Wednesday.

But even after New Delhi's permission to export that much, about 500,000 tonnes of wheat could remain sitting at ports, as some traders have failed to secure export permits, the sources with knowledge of the matter told Reuters.

New Delhi banned wheat exports in a surprise move on May 14, but said it would allow overseas shipments backed by already issued letters