There’s a sharp decline in availability of wheat within the world markets because of the ongoing battle between Russia and Ukraine. Each the nations are main producers and exporters of wheat.
Egypt imported wheat price about USD 1.8 billion from Russia and USD 610.8 million from Ukraine in 2020.
The African nation is trying to import 1 million tonne of wheat from India and would wish 2,40,000 tonne in April.
“Indian farmers are feeding the world. Egypt approves India as a wheat provider. Modi Govt. steps in because the world appears to be like for dependable alternate sources for regular meals provide. Our farmers have ensured our granaries overflow and we’re able to serve the world,” Goyal mentioned in a tweet.
Indian farmers are feeding the world.Egypt approves India as a wheat provider. Modi Govt. steps in as world appears to be like… https://t.co/b0DEPgdeNt
— Piyush Goyal (@PiyushGoyal) 1649995192000
India’s wheat exports elevated to USD 1.74 billion in April-January 2021-22 as in opposition to USD 340.17 million in the identical interval final yr.
In 2019-20, wheat exports have been price USD 61.84 million, which rose to USD 549.67 million in 2020-21.
India’s wheat exports are primarily to neighbouring international locations with Bangladesh having the biggest share of greater than 54 per cent in each quantity and worth phrases in 2020-21. It has entered new wheat markets akin to Yemen, Afghanistan, Qatar and Indonesia.
The highest ten international locations importing Indian wheat in 2020-21 have been Bangladesh, Nepal, the United Arab Emirates, Sri Lanka, Yemen, Afghanistan, Qatar, Indonesia, Oman and Malaysia.
India accounts for lower than 1 per cent on this planet’s wheat export. Nonetheless, its share has elevated from 0.14 per cent in 2016 to 0.54 per cent in 2020. India is the second largest producer of wheat with a share of round 14.14 per cent on this planet’s whole manufacturing in 2020.
India produces round 107.59 million tonne of wheat yearly whereas a serious chunk of it goes in the direction of home consumption.
Main wheat rising states in India are Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, Rajasthan, Bihar and Gujarat.