Russia-Ukraine War: Today (Wednesday) is the 14th day of the war between Russia and Ukraine. Both these countries are being harmed by this war, but no country is untouched by the inflation bomb that has exploded all over the world. Rising crude oil prices were already adding fuel to the fire of inflation, now with the new tough sanctions on Russia, now the business of the world has also been taken under its control.
Farmers and traders will get the right price
In the midst of all this, the Russo-Ukraine war can prove beneficial for the wheat traders of Punjab. Yes, the wheat traders of Punjab are getting some hope from this. In fact, Russia and Ukraine supply 40 percent of the wheat in the world. In such a situation, the businessmen of Punjab feel that if the war is prolonged, then the demand for India’s wheat will increase in the international market, due to which farmers and traders will get the right price.
According to 2019 data, Russia was the largest wheat exporter in the world. At the same time, war-torn Ukraine was at number five in this matter. According to a report by News18, these two countries export 40 percent of the wheat in the world. Traders say that if the war prolongs, then wheat exports from both the countries may be adversely affected. In this situation India can become a big exporter of wheat.
India’s wheat demand may increase after the war
Punjab produces the best quality wheat but its export is limited to Sri Lanka and Bangladesh only. Even big companies in India are eyeing wheat from Russia and Ukraine, but traders say that after this war, the demand for Indian wheat may increase. Asia’s largest grain market is located in Khanna City of Punjab, but it has been deserted for some time. Very few buyers are reaching here. But nowadays the farmers and traders here are gazing at the Russo-Ukraine war.
Hope tied to Russia-Ukraine war
Harbans Singh Rosha, president of the Wheat Traders Association in Khanna City, told News18.com that we are in a lot of trouble because of the war. Most of the wheat that goes to Kandla Port is from Saharanpur and Madhya Pradesh. Despite having good quality wheat in Punjab, there is no buyer for it.
He said that the MSP (minimum support price) is very low. We still have 40 lakh tonnes of wheat stock lying with us. After the harvest, it will be 2 million tonnes, but the Russo-Ukraine war has given us some hope. Sources said that big buyers Adani and ITC have started talking to traders.
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Balbir Singh Rajewal, president of the farmers’ political organization Samyukta Samaj Morcha (SSM), said that yes, it is true that this war can prove beneficial for the traders but not for the farmers. Good rate of MSP is important for farmers. We hope that the new Punjab government will understand this, as the war is going to be long and the harvest will be in April. So we should look at profits.
Traders eagerly waiting for election results
The traders of Khanna are eagerly waiting for the results of the Punjab Assembly elections to be declared on March 10. Exit polls have indicated that the Aam Aadmi Party (AAP) may oust the ruling Congress. In such a situation, the traders have planned to meet the new Chief Minister with their demand. Rosha said that wheat of Gujarat, UP and MP is cheaper because there is less tax. We are hopeful that the new Chief Minister will cut taxes so that private traders can sell at competitive rates.
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