Wheat exports from India are the world’s second largest grain producer after a jump in global prices due to Russia’s war against Ukraine, and total shipments from the country have already touched a record 6.6 million tonnes so far this fiscal year. . Secretary Sudhanshu Pandey gave this information on Saturday.
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.
Russia and Ukraine together make up about a quarter of the global wheat supply. His wheat crop will ripen in August and September this year. As a result, global wheat prices have already risen and are ruling in the range of 24,000-25,000 per tonne, he said.
“As a result, Indian wheat exports have picked up. By the end of February, we have already exported 6.6 million tonnes of wheat,” Pandey told reporters in a virtual press conference.
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.
Wheat, the main Rabi (winter) crop, will start arriving in the market from March 15. There is also a surplus stock of wheat in government godowns in the country.
Exports of products under the Agricultural and Processed Food Products Export Development Authority (APEDA) increased from $15.97 billion in April-January 2020-21 to $19.70 billion during the first ten months of the current fiscal.
The Ministry of Commerce and Industry has set a target of exports of $23.71 billion under APEDA Basket products for the financial year 2021-22.
According to data released by the Ministry of Commerce and Industry, rice exports were the top foreign exchange earner during April-January 2021-22 at $7.69 billion, growing 13 per cent to $6.79 billion in the same period of 2020-21.
With input from agencies
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