INSUBCONTINENT EXCLUSIVE:
India's wheat exports have picked up in the aftermath of Russia-Ukraine warNew Delhi: India's wheat exports have picked up after global
prices spiked in the aftermath of Russia's war with Ukraine, as total shipments from the country have touched a record of 6.6 million
tonnes during the current fiscal.This information was given by food secretay Sudhanshu Pandey on Saturday.Addressing media persons, Mr
Pandey said that the prevailing global situation is an "opportunity" for Indian exporters as the new wheat crop will be available early from
March 15 onwards when compared to other global wheat producers.India is the world's second biggest producer of wheat in the world.Russia
and Ukraine together account for almost a quarter of the global wheat supply
Their wheat crop will mature in August and September this year
As a result, global wheat prices have already gone up and are ruling in the range of Rs 24,000-25,000 per tonnes, he added."Indian wheat
exports, as a result, have picked up
By the end of February, we have already exported 6.6 million tonnes of wheat," the food secretary said during a virtual press conference.So
far, wheat exports have crossed the historical high of 6.5 million tonnes achieved earlier in 2012-13 fiscal, he said."Still one month is
left, you can expect roughly about 7 million tonne plus exports this year," he said, adding that this is good news for Indian farmers and
exports.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, as per the Agriculture Ministry's second advance estimate.Wheat, the main rabi
(winter) crop, will start hitting the market from March 15 onwards
The country also has a surplus stock of wheat in the government godowns.Other global players will enter the market later after the end of
their summer season."We will have adequate stock of wheat and the new crop will also be available to private players for normal export," he
2021-22 marketing year (October-September), much higher than 2 million tonnes in the last year buoyed by strong global prices.The demand for
Indian sugar is rising not because of the Russia-Ukraine crisis but due to the tight supply of sweetener for export purposes in the global
market that has pushed up the international rates, he added.
