Trade and Industry Minister Piyush Goyal said on Friday that Egypt, which is one of the biggest wheat importers from Ukraine and Russia, had approved India as a wheat supplier.
There is a sharp drop in the availability of wheat on world markets due to the ongoing conflict between Russia and Ukraine. Both nations are major producers and exporters of wheat.
Egypt imported wheat worth about $1.8 billion from Russia and $610.8 million from Ukraine in 2020. The African nation is looking to import 1 million tons of wheat from Egypt. India and would need 2.40,000 tons in April.
Indian farmers feed the world. Egypt endorses India as wheat supplier. Modi Govt. comes as the world searches for reliable alternative sources for a stable food supply. Our farmers have kept our granaries overflowing and we are ready to serve the world, Goyal said in a tweet. India’s wheat exports rose to $1.74 billion in April-January 2021-22 from $340.17 million in the same period last year.
In 2019-20, wheat exports were worth $61.84 million, which increased to $549.67 million in 2020-21. India’s wheat exports are mainly destined for neighboring countries, with Bangladesh holding the largest share of over 54% by volume and value in 2020-21. It has entered new wheat markets like Yemen, Afghanistan, Qatar and Indonesia.
The top ten importing countries of Indian wheat in 2020-21 were Bangladesh, Nepal, United Arab Emirates, Sri Lanka, Yemen, Qatar, Indonesia, Oman and Malaysia. India accounts for less than 1% of world wheat exports.
However, its share has increased from 0.14% in 2016 to 0.54% in 2020. India is the second largest producer of wheat with a share of about 14.14% in the world’s total production in 2020.
India produces about 107.59 million tonnes of wheat annually, much of which is for domestic consumption. The major wheat producing states in India are Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, Rajasthan, Bihar and Gujarat.