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Wheat exports expected to exceed 100 lakh tons this fiscal year: Piyush Goyal

The wheat of the country exports It is likely to surpass 100 lakh tonnes (10 million tonnes) in 2022-23 due to rising demand for the commodity in the global market, according to Trade and Industry Ministers Pyush Goyal said on Sunday. Exports have exceeded 70 lakh tons (worth over Rs.15,000 crore) in 2021-22, against 21.55 lakh tons (over Rs.4,000 crore) in 2020-21.

In 2019-20 it was only two lakh tons (Rs 500 crore).

The minister said wheat exports have helped several countries meet the requirements Food inspection.

“We will continue to export wheat on a large scale, meeting the needs of the countries that do not get their supplies from the conflict zones, and I think this time around we are likely to exceed our wheat exports to over 100 lakh tons comfortably,” he said reporters here.

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

Farmers are also focused on increasing production, and regions like Gujarat and Madhya Pradesh have been exporting heavily since last year, he added.

India is in final talks on launch export wheat to Egypt, while talks are underway with countries including China, Turkey, China and Iran to begin outbound shipments of the goods.

Director-General for Foreign Trade (DGFT) Santosh Kumar Sarangi said there are also efforts by trade and food departments and public distribution to facilitate exports from other ports.

Maximum exports are routed through the Port of Kandla.

Discussions are underway with railroads to facilitate wheat exports from various ports such as Vizag, Kakinada and Nhava Sheva, Sarangi added.

India mainly exports wheat to neighboring countries, with Bangladesh having the largest share of more than 54 percent in both volume and value in 2020-21. It has opened up new wheat markets such as Yemen, Afghanistan, Qatar and Indonesia.

Wheat exports to Bangladesh have exceeded 3.5 million tons in 2021-22.

The top ten importing countries for Indian wheat in 2020-21 were Bangladesh, Nepal, United Arab Emirates, Sri Lanka, Yemen, Afghanistan, Qatar, Indonesia, Oman and Malaysia.

India even accounts for less than 1 percent of global wheat exports. However, its share has increased from 0.14 percent in 2016 to 0.54 percent in 2020. India is the second largest wheat producer. In 2020, it contributed around 14.14 percent to total global production.

India produces around 107.59 million tons of wheat annually, with a large portion of this going 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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https://economictimes.indiatimes.com/small-biz/trade/exports/insights/wheat-exports-likely-to-cross-usd-100-lakh-tonnes-this-fiscal-piyush-goyal/articleshow/90637484.cms Wheat exports expected to exceed 100 lakh tons this fiscal year: Piyush Goyal

Dais Johnston

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