India's wheat demand increased in the international market…
Preparations to export to 30 countries amid Russia-Ukraine war
Reliable sources in the Agricultural and Processed Food Products Export Development Authority (APEDA) that these countries are already importing wheat from india along with russia and Ukraine. But India's share was very low compared to russia and Ukraine. But after the war, india is now working on increasing its share in comparison to these two countries.
The demand for India's wheat has increased in the international market amid the Russia-Ukraine war. So far, about 30 countries that have imported wheat from these two countries may soon take wheat from India. For this, the government of india has started planning at its level. Actually, india wants to replace russia and ukraine in terms of wheat exports. Therefore, the central government is focusing on increasing wheat exports through agreements with such countries or through private trading channels. Reliable sources in the Agricultural and Processed Food Products Export Development Authority (APEDA) that these countries are already importing wheat from india along with russia and Ukraine.
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These countries include Egypt, Syria, Morocco, Turkey, Azerbaijan, Sudan, Italy, Yemen, Greece, and all countries in east Africa. Those who rarely buy wheat from India. Many countries made the distance from Russia-Ukraine. A source close to APEDA said that at present, russia and ukraine dominate in terms of wheat exports. Many big countries import wheat from these two countries. But the situation has changed since the war.
India's demand for wheat is seen increasing in other countries. Our aim is also not to make alternative arrangements in the current crisis by exporting wheat to such countries. Rather we want to be a reliable supplier of good quality wheat to the markets of these countries. We are not looking at short-term gains but use this opportunity to build strong and long-term relationships with the world's leading wheat importing countries. Today the world's leading wheat importing countries include Egypt, Indonesia, Turkey, China, Nigeria, Italy, Algeria, Philippines, japan, Morocco, Brazil, etc. Of these, India's wheat goes to bangladesh, Indonesia, the Philippines, Nigeria, and japan only. In such a situation, india has a huge potential to expand exports, as other countries are currently keeping a distance due to the ongoing war between major exporting countries russia and Ukraine.
According to the information, the decision to export wheat to these 30 countries was taken at a high-level meeting convened by the Ministry of Commerce on Thursday. The meeting was attended by leading wheat exporters as well as officials of other concerned ministries. The chief minister of the major wheat-producing state of madhya pradesh shivraj singh chouhan was also present in this meeting. The central government has set a target of exporting about 11 to 12 million tonnes of wheat in the financial year 2023, which is 70 to 72 lakh tonnes more than the financial year 2022.
However, some traders say that the target of exporting 1 to 11 million tonnes may be reasonable as exports will slow down during the monsoon. Strong growth in exports india has exported wheat worth $2,352.22 million in the last three years, including the first 10 months of the current fiscal year 2021-22. Wheat export was $61.84 million in 2019-20 which increased to $549.67 million in 2020-21.
Although india is not among the top ten wheat exporters in global trade, its growth rate in exports has outstripped that of other countries. And india is making rapid strides in reaching new markets across the world. India's wheat exports are mainly to neighboring countries, with bangladesh accounting for the largest share in 2020-21, both in volume and value, at over 54 percent. In 2020-21, india entered new wheat markets such as Yemen, Afghanistan, Qatar, and Indonesia.
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