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Wheat prices hit record high after India export ban

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In this file photograph taken on April 12, 2022, an Indian farmer poses as he harvests wheat crop in a field on the outskirts of Amritsar, in the northern Indian state of Punjab. -AFP

PARIS: Wheat prices surged to a record high on Monday after India decided to ban exports of the commodity as a heatwave hit production.

The price — which was already high in the wake of Russia‚Äôs invasion of major wheat exporter Ukraine — jumped to 435 euros ($453) per tonne as the European market opened.