Egypt, one of the top importers of wheat from Ukraine and Russia, has accepted India as a wheat supplier, according to Commerce and Industry Minister Piyush Goyal on Friday.
Because of the ongoing conflict between Russia and Ukraine, wheat availability has decreased dramatically on worldwide markets. Wheat is produced and exported in large quantities in both countries.
In the year 2020, Egypt import wheat worth USD 1.8 billion from Russia and USD 610.8 million from Ukraine. In April, the African nation plans to import 1 million tonnes of wheat from India, with a need of 2,40,000 tonnes.
Farmers in India are feeding the globe. India has been approved as a wheat supplier by Egypt. As the globe searches for trustworthy alternative supplies of food, the Modi government steps in. In a tweet, Goyal stated, "Our farmers have guaranteed that our granaries overflow, and we are ready to feed the globe."
In April-January 2021-22, India's wheat exports grew to USD 1.74 billion, up from USD 340.17 million the previous year. Wheat exports totaled USD 61.84 million in 2019-20, rising to USD 549.67 million in 2020-21.
In both volume and value terms, Bangladesh has the highest part of India's wheat exports in 2020-21, accounting for more than 54% in both volume and value terms. Yemen, Afghanistan, Qatar, and Indonesia are among the new wheat markets it has entered.
Bangladesh, Nepal, the United Arab Emirates, Sri Lanka, Yemen, Afghanistan, Qatar, Indonesia, Oman, and Malaysia were the top 10 importers of Indian wheat in 2020-21.
India exports less than 1% of the wheat produced worldwide. However, from 0.14 percent in 2016 to 0.54 percent in 2020, it has expanded its market share. In 2020, India will be the world's second-largest wheat producer, accounting for 14.14 percent of global production.
India produces around 107.59 million tonnes of wheat per year, with the majority of it being used domestically. Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, Rajasthan, Bihar, and Gujarat are the most important wheat-producing states in India.
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