On Friday, Piyush Gohal, Commerce and Industry Minister, said that Egypt has approved India to be its wheat supplier and Egypt will receive wheat from India. Egypt is the largest importer of wheat from Russia and Ukraine.
Due to the Russia-Ukraine war, there is a shortage in the global market as both are the major producers and exporters of wheat.
Lately, Egypt exported wheat from Russia worth USD 1.8 billion and Ukraine worth USD 610.8 million in the year 2020.
According to the sources, Africa is set to import 1 million tonnes of wheat and in April, 240,000 tonnes of wheat would be supplied.
Indian farmers are feeding the globe. Our farmers have assured us of the number of granaries ready to serve the globe in these situations.
With this, the Modi government is stepping up and providing the world with alternative food sources to survive.
India Wheat Export
The data shows India’s export of wheat increased to USD 1.74 billion in the April-January 2021–22 period, compared to USD 340.17 million in the same period last year. In 2019–20, wheat exports were worth $61.84 million, rising to $549.67 million in 2020–21.
India’s wheat exports are mainly to neighboring countries, with Bangladesh accounting for the largest share of more than 54 percent in both volume and value terms in 2020-21.
Egypt will receive wheat from India, Thereby India has entered new wheat markets such as Yemen, Afghanistan, Qatar, and Indonesia.
In the year 2020–21, Bangladesh, Nepal, the United Arab Emirates, Sri Lanka, Yemen, Afghanistan, Qatar, Indonesia, Oman, and Malaysia were among the top ten countries importing wheat from India.
India accounts for less than 1 percent of the world’s wheat exports. However, India’s share has increased from 0.14 percent in 2016 to 0.54 percent in 2020.
India is the second-largest producer of wheat, with a share of around 14.14 percent of the world’s total production in 2020.
India produces around 107.59 million tonnes of wheat annually, while a major chunk of it goes towards domestic consumption, at around 98 million. 10–12 million tonnes of wheat are exported.
With this, the major wheat production is in the states of Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, Rajasthan, Bihar, and Gujarat , Egypt will receive wheat from India.
According to FOB, the prices of Indian wheat raised to $360 per tonne lowering to $330-$340 in the last few days.
Edited by – Vanshika Sahu
Published by – Mohd Faizan
