Traders have signed deals to export 30-35 lakh tons of wheat in the April-July period, buoyed by rising demand for the commodity in the global market, Food Minister Sudhanshu Pandey said on Friday.
According to official data, the country’s wheat exports exceeded 70 lakh tons in 2021-22 compared to 21.55 lakh tons in 2020-21.
“The trade estimate assumes that around 30-35 lakh tons of wheat were contracted for export during the April-July period this year,” Pandey told reporters.
The maximum amount of wheat will be shipped from Gujarat, Rajasthan and Madhya Pradesh as these states are near ports and have easier logistics, he told reporters.
As a result, private traders from these states procure wheat for export. If international prices keep rising, traders could buy the grain from other states like Haryana and Uttar Pradesh, he said.
As private trade sources wheat for export, there may be a reduction in government procurement, but it’s too early to tell. However, the government is regularly monitoring the situation, he added.
Last week, Trade and Industry Minister Piyush Goyal said the country’s wheat exports could surpass 100 lakh tons in fiscal 2022-23.
Many countries are sourcing wheat from India and elsewhere after Russia’s invasion of Ukraine and subsequent Western sanctions against Moscow curtailed their wheat supplies.
The Indian government plans to encourage wheat exports to take advantage of higher wheat prices in the world market. India is the second largest wheat producer in the world.
https://www.financialexpress.com/economy/india-to-export-30-35-lakh-tonnes-of-wheat-in-april-july-food-secy/2486151/ India exports 30-35 lakh tons of wheat from April to July: food safety