May 12, 2022

 

India exports record 1.4 million tonnes of wheat in April

 

 

Four trade sources told Reuters that India exported a record 1.4 million tonnes of wheat in April, as buyers search for alternatives to Black Sea grain supplies following Russia's invasion into Ukraine, Reuters reported.

 

The first month of the fiscal year for India is April. In fiscal 2021-22, India, the world's second largest wheat producer, exported a record 7 million tonnes of the crop.

 

At this time of year, India is the only major provider of wheat, and its shipments of the crop have increased dramatically since Russia invaded Ukraine in late February.

 

In April 2021, it only shipped 242,857 tonnes of wheat.

 

Wheat shipments might increase this month when the new season crop is harvested.

 

A New Delhi-based dealer with a global trading company said exports are expected to reach 1.5 million tonnes in May, adding that there are more buyers from Asia and the Middle East choosing India because it is cheaper.

 

Indian wheat has been shipped to South Asia, Southeast Asia, the Middle East, Europe, and North Africa.

 

As supplies declined from Ukraine and Russia, which together used to account for roughly 29% of worldwide wheat exports, Egypt, the world's largest wheat importer, decided for the first time to buy the crop from India.

 

According to dealers, India also sold wheat to new markets such as Israel, Turkey, Indonesia, Mozambique, and Tanzania.

 

-      Reuters

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