Union Commerce Minister Piyush Goyal said that Egypt has approved India as a wheat supplier. India’s share in the world’s total wheat exports is less than one percent. However, its share increased from 0.14 percent in 2016 to 0.54 percent in 2020.
Commerce and Industry Minister Piyush Goyal said on Friday that Egypt, the largest importer of wheat from Ukraine and Russia, has approved India as a wheat supplier. Let us tell you, due to the ongoing conflict between Russia and Ukraine, there has been a sharp decline in the availability of wheat in the global markets. Both these countries are major producers and exporters of wheat.
Egypt imported wheat worth $1.8 billion from Russia and $610.8 million from Ukraine in 2020.
Now Egypt wants to import 1 million tonnes of wheat from India and in April it will need 2,40,000 tonnes of wheat.
Goyal tweeted, “Indian farmers are feeding the world. Egypt has approved India as a wheat supplier. With the world in search of a reliable alternative source of sustainable food supply, the Modi government has come forward. Our farmers kept the stocks full and we are ready to serve the world.
India’s wheat exports increased to $1.74 billion between April 2021 and January 2022. It was $ 34.017 million in the same period of the previous financial year. Wheat exports stood at $6184 million in 2019-20, which increased to $549.67 million in 2020-21.
India exports wheat mainly to neighboring countries, of which 54% is exported to Bangladesh. India has also entered the new wheat market in countries like Yemen, Afghanistan, Qatar and Indonesia.
Bangladesh, Nepal, United Arab Emirates, Sri Lanka, Yemen, Afghanistan, Qatar, Indonesia, Oman and Malaysia are among the top ten countries to import wheat from India in 2020-21.
India’s share in the world’s total wheat exports is less than one percent. However, its share increased from 0.14 percent in 2016 to 0.54 percent in 2020. India is the second largest producer of wheat and its share in the total production of wheat in the world in 2020 was around 14.14 per cent. India produces about 10.759 million tonnes of wheat annually and most of the consumption is done domestically.
