Global demand for Wheat on the rise
India estimates export opportunities to meet the global deficit.
India is ready to meet any additional requirement for wheat from buyers in Asia, and from countries in Europe, the Middle East, and North Africa. Ukraine is being one of the major producers of wheat, but exports have been disturbed since the Russian invasion in February 2022. Senior civil officer at the Ministry of Consumer Affairs, Food and Public Distribution, Sudhanshu Pandey said that the Indian market has adequate supplies, and India is in a secure position to fulfil requirements from wheat importing countries.
India's new season wheat crop is ongoing, with this year's production set at a record 111.32 Mn MTS - making it the 6th season in a row that the country has generated a surplus. India needs at least 25 Mn MTS of wheat every year to operate a food assistance programme. Last year, the government purchased a record 43.34 Mn MTS of wheat from local farmers, significantly higher than the amount it needs for the assistance programme.
This year Indian government purchases are to be expected to go down because private traders are offering farmers a higher price for wheat than the government's price of 20,150 rupees ($265.35) per MTS, - providing a greater surplus for export. Pandey stated that the government was urging wheat exports by asking port and railway authorities to give priority to outbound wheat cargoes.
India's wheat exports reached 7.85 Mn MTS in the fiscal year to March, an all-time high and a sharp increase from 2.1 Mn MTS in the previous year.