Categories: Economy

India’s wheat exports soar amid Russia-Ukraine conflict

<p>
<strong>After a surge in rice exports, India is now set to grab a larger share of the global wheat market amid the Russia-Ukraine war. More than 25 per cent of the total demand for wheat globally was supplied by Russia and Ukraine. Moscow has been the largest exporter of wheat.</strong></p>
<p>
Many farmers growing wheat are now selling their crop to private players instead of the state stockpiler, <a href="https://www.reuters.com/world/india/indias-wheat-export-boom-brings-bonanza-farmers-budget-relief-2022-04-28/">“as a global wheat price rally gives India's suppliers a rare profitable export window.”</a></p>
<p>
“India’s wheat production is sufficient to take care of its own markets which also includes the public distribution system for the poorer section of the people. There is enough stock to take care of the domestic market and then go for exports,” Anil Monga, managing director, Emmsons International that deals in trading of agro products told India Narrative.</p>
<p>
Monga also said that surplus stocks of the previous years are also lying with the Food Corporation of India (FCI).</p>
<p>
Sources also indicated that the Centre’s procurement of wheat is expected to be significantly less in this financial year thereby reducing the country’s food subsidy bill.</p>
<p>
In 2020-21, India’s wheat exports crossed 7.8 million tonnes compared to 2.1 million tonnes in 2020-21, official data revealed.</p>
<p>
<strong>Also read: <a href="https://www.indianarrative.com/economy-news/will-india-emerge-as-key-global-player-in-wheat-after-sanctions-on-russia-157734.html">Will India emerge as key global player in wheat after sanctions on Russia?</a></strong></p>

IN Bureau

Recent Posts

Foreign Secy to brief parliamentary panel on India’s ties with Canada, China

Foreign Secretary Vikram Misri is likely to tomorrow brief the Parliamentary Standing Committee on External…

24 mins ago

PoGB Lawyer condemns land reform bill, calling it “against natural justice”

Renowned lawyer Ashfaq Ahmed Advocate has condemned the proposed Gilgit-Baltistan Land Reform Act 2024 and…

30 mins ago

J-K: Encounter breaks out between security forces and terrorists in Bandipora

An encounter broke out between security forces and terrorists in the Ketsun forest area of…

1 hour ago

LG Ladakh inaugurates 4th LG Horse Polo Cup, Ladakh’s first Polo Stadium in Dras

Lieutenant Governor of Ladakh, Brigadier (Dr) BD Mishra inaugurated the 4th LG Horse Polo Cup…

3 hours ago

Last set of disengagement between India, China concluded on October 21, says EAM Jaishankar

India and China concluded the last lot of disengagement on October 21 and the implementation…

4 hours ago

Pakistan: Baloch activist expresses outrage over Mastung bomb blast

Baloch "pro-independence" leader Allah Nazar Baloch has expressed outrage over the recent bomb blast near…

4 hours ago