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Russia-Ukraine War: Amid Supply Chain Disruption, India To Export Record 7 Million Tonnes Of Wheat In This Fiscal
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India is set to export a record seven million tonnes of wheat in FY 22-23 amid rising global prices, Reuters reports.
“Indian wheat exports have picked up. By the end of February, we had already exported 6.6 million tonnes of wheat. Still one month is left,” Sudhanshu Pandey, Secretary, Department of Food & Public Distribution, was quoted by the aforementioned news agency.
The benchmark wheat prices in Chicago have shot up by over 40 per cent this week. Concerns over disruption in the supply chain due to sanctions on Russia owing to Moscow’s war with Ukraine have contributed to this surge in prices.
Russia and Ukraine together make up for around 30 per cent of the global wheat exports.
Accordingly, disruptions in the Black Sea route mean that demands for Indian wheat have increased in the last week or so.
With these developments, India looks all set to surpass its previous record of 6.5 million tonnes of wheat shipments in the 2012-13 fiscal year.
Meanwhile, New Delhi will also be sending 50,000 tonnes of wheat to Afghanistan to help it fight poverty and hunger amidst the takeover by Taliban last year.
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