Commerce and Industry Minister Piyush Goyal on Friday stated Egypt, which is likely one of the largest importers of wheat from Ukraine and Russia, has permitted India as a wheat provider. There is a pointy decline in availability of wheat within the world markets as a result of ongoing battle between Russia and Ukraine. Both the nations are main producers and exporters of wheat.
Egypt imported wheat value 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 want 2,40,000 tonne in April.
“Indian farmers are feeding the world. Egypt approves India as a wheat supplier. Modi Govt. steps in as the world looks for reliable alternate sources for steady food supply. Our farmers have ensured our granaries overflow and we are ready to serve the world,” Goyal stated in a tweet.
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 value 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 comparable to Yemen, Afghanistan, Qatar and Indonesia.The prime 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 the earth’s wheat export. However, 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 the earth’s whole manufacturing in 2020.
India produces round 107.59 million tonne of wheat yearly whereas a significant chunk of it goes in direction of home consumption.Major wheat rising states in India are Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, Rajasthan, Bihar and Gujarat.
Source: www.financialexpress.com”