Food Secretary Sudhanshu Pandey has said that amid the Russia-Ukraine war, India’s wheat exports have picked up after rising global prices, and the total shipments from the country have already touched a record 6.6 million tonnes this fiscal. Is. He said this is an “opportunity” for Indian exporters as the new wheat crop will be available from March 15 as compared to other global wheat producers.
According to a report, even though India has a surplus of wheat, it may not be able to ship it to Europe due to the lack of regulatory approvals and the West forced the agricultural trade out of sanctions due to the availability of Russian wheat. Is. In Moneycontrol.
Russia and Ukraine together account for 30% of world wheat exports.
His wheat crop will ripen in August and September this year. As a result, global wheat prices have already risen and are running in the range of Rs 24,000-25,000 per tonne, the food secretary said. “As a result, Indian wheat exports have picked up. In February, we have already exported 6.6 million tonnes of wheat,” Pandey said.
India’s wheat production is estimated to touch a new record of 111.32 million tonnes in the 2021-22 crop year (July-June), as against 109.59 million tonnes in the previous year, according to the second advance estimate of the agriculture ministry.
Other global players will enter the market later, after the end of their summer season. “We will have sufficient stock of wheat and the new crop will also be available to private players for general export,” he said.
The recent uptick in international prices has made wheat shipments more attractive for traders.
Wheat prices in Chicago rose more than 40% this week on fears of supply disruptions due to sanctions on Russia and the war in Ukraine.
Traders said last week that India’s wheat exports are expected to pick up with a flurry of inquiries from buyers seeking the option of Black Sea shipments.
To help the country facing poverty and hunger since its takeover by the Taliban last year, Pandey said, India will also send 50,000 tonnes of wheat to Afghanistan.
New Delhi has already sent 4,000 tonnes of food grains to Afghanistan via the frequently used land route through Pakistan.
According to a report in Moneycontrol, Indian officials said that wheat exports to neighboring Bangladesh will increase in future. Bangladesh bought 60% of India’s wheat, followed by Sri Lanka (8.1%) and the United Arab Emirates (7.3%). Due to changing trading patterns, India has been exporting wheat to Indonesia, Philippines and South Korea in recent years.
According to the United Nations Food and Agriculture, China (133.6 million tonnes) and India (103.6 million tonnes) were the world’s top wheat producers in 2019, followed by Russia (74.5 million tonnes), while Ukraine was seventh (28.4 million tonnes). Organization.
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