Egypt, which is one of the top importers of wheat from Ukraine and Russia, has approved India as a wheat supplier, according to Union Commerce and Industry Minister Piyush Goyal on Friday, April 15, 2022.
Wheat availability has decreased dramatically on worldwide markets as a result of the ongoing conflict between Russia and Ukraine. Wheat is a key producer and exporter in both countries.
Egypt would import wheat from India
In the year 2020, Egypt would import wheat worth USD 1.8 billion from Russia and USD 610.8 million from Ukraine. The African nation plans to import 1 million tonnes of wheat from India in April, with a demand of 2,40,000 tonnes.
“Indian farmers feed the entire world.” India has been approved as a wheat supplier by Egypt. As the world searches for reliable alternative supplies of food, the Modi government steps in. In a tweet, Mr. Goyal said, “Our farmers have guaranteed that our granaries are overflowing, and we are ready to feed the world.”
India’ Wheat exports are surging
In April-January 2021-22, India’s wheat exports grew to USD 1.74 billion, up from USD 340.17 million the previous year. Wheat exports totaled USD 61.84 million in 2019-20, rising to USD 549.67 million in 2020-21.
India’s wheat exports are primarily to its neighbors, with Bangladesh accounting for more than 54 percent of total volume and value in 2020-21. Yemen, Afghanistan, Qatar, and Indonesia are among the new wheat markets it has entered.
Bangladesh, Nepal, the United Arab Emirates, Sri Lanka, Yemen, Afghanistan, Qatar, Indonesia, Oman, and Malaysia were the top 10 importers of Indian wheat in 2020-21.
India only exports a fraction of a percent of the world’s wheat. However, from 0.14 percent in 2016 to 0.54 percent in 2020, its proportion has increased. In 2020, India will be the world’s second-largest wheat producer, accounting for roughly 14.14 percent of global production.
India produces roughly 107.59 million tonnes of wheat per year, with the majority of it consumed domestically. Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, Rajasthan, Bihar, and Gujarat are the major wheat-growing states in India.