Wheat exports likely to exceed USD 100k this fiscal: Piyush Goyal

The country’s wheat export is likely to exceed 100,000 tons (10 million tons) in the period 2022-23, due to the increasing demand for goods on the world market, the Minister of Trade and Industry Piyush Goyal said on Sunday. Exports exceeded 700,000 tons in the period 2021-22 (worth over 15,000 crore) compared to 21,55 thousand tons (more than 4,000 crore) in 2020-21.

It is only two thousand tons (Rs 500 crore) in 2019-20.

The minister said wheat exports have helped some countries meet the requirements of food safety.

“We will continue to export wheat in a big way and meet the needs of countries that don’t get supplies from the conflict zones, and my own feeling is that this time we will probably exceed Its wheat exports (in total) more than 100,000 a ton comfortably,” he told reporters here.

Russia and Ukraine account for almost a quarter of the global wheat supply. Their wheat crop will ripen in August and September this year.

Farmers are also focused on increasing production, and regions like Gujarat and Madhya Pradesh are exporting strongly compared to last year, he added.

India is in final negotiations to start export of wheat to Egypt, while discussions are underway with countries such as China, Turkey, China and Iran to begin shipping overseas.

Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said that the trade, food and public distribution departments are also working to facilitate exports from other ports.

Maximum exports are routed through the port of Kandla.

Sarangi added that discussions are ongoing with railway lines to facilitate the export of wheat from various ports, such as Vizag, Kakinada and Nhava Sheva.

India exports wheat mainly to neighboring countries, of which Bangladesh holds the largest market share with more than 54% in both volume and value in the period 2020-21. It has entered new wheat markets such as Yemen, Afghanistan, Qatar and Indonesia.

Wheat exports to Bangladesh surpassed 3.5 million tons in the period 2021-22.

The top ten Indian wheat importers for 2020-21 are Bangladesh, Nepal, United Arab Emirates, Sri Lanka, Yemen, Afghanistan, 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 wheat producer. It contributed about 14.14% of the world’s total production in 2020.

India produces about 107.59 million tons of wheat annually, while a large part of that is for domestic consumption. The main wheat-growing states in India are Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, Rajasthan, Bihar and Gujarat.

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