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India's wheat exports soar amid Russia-Ukraine conflict

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India has reasons to smile--its wheat exports are soaring

After a surge in rice exports, India is now set to grab a larger share of the global wheat market amid the Russia-Ukraine war. More than 25 per cent of the total demand for wheat globally was supplied by Russia and Ukraine. Moscow has been the largest exporter of wheat.

Many farmers growing wheat are now selling their crop to private players instead of the state stockpiler, “as a global wheat price rally gives India's suppliers a rare profitable export window.”

“India’s wheat production is sufficient to take care of its own markets which also includes the public distribution system for the poorer section of the people. There is enough stock to take care of the domestic market and then go for exports,” Anil Monga, managing director, Emmsons International that deals in trading of agro products told India Narrative.

Monga also said that surplus stocks of the previous years are also lying with the Food Corporation of India (FCI).

Sources also indicated that the Centre’s procurement of wheat is expected to be significantly less in this financial year thereby reducing the country’s food subsidy bill.

In 2020-21, India’s wheat exports crossed 7.8 million tonnes compared to 2.1 million tonnes in 2020-21, official data revealed.

Also read: Will India emerge as key global player in wheat after sanctions on Russia?