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The African nation is trying to import 1 million tonne of wheat from India.
The African nation is trying to import 1 million tonne of wheat from India.
Union Commerce and Trade Minister Piyush Goyal on Friday, April 15, 2022, mentioned Egypt, which is among the largest importers of wheat from Ukraine and Russia, has accredited India as a wheat supplier.
There’s a sharp decline in availability of wheat within the international markets as a result of ongoing battle between Russia and Ukraine. Each the nations are main producers and exporters of wheat.
Egypt imported wheat value about USD 1.8 billion from Russia and USD 610.8 million from Ukraine in 2020.
The African nation is trying to import 1 million tonne of wheat from India and would wish 2,40,000 tonne in April.
“Indian farmers are feeding the world. Egypt approves India as a wheat provider. Modi Govt. steps in because the world appears for dependable alternate sources for regular meals provide. Our farmers have ensured our granaries overflow and we’re able to serve the world,” Mr. Goyal mentioned in a tweet.
Surge in wheat exports
India’s wheat exports elevated to USD 1.74 billion in April-January 2021-22 as in opposition to USD 340.17 million in the identical interval final yr.
In 2019-20, wheat exports have been value USD 61.84 million, which rose to USD 549.67 million in 2020-21.
India’s wheat exports are primarily to neighbouring international locations with Bangladesh having the most important share of greater than 54 per cent in each quantity and worth phrases in 2020-21. It has entered new wheat markets corresponding to Yemen, Afghanistan, Qatar and Indonesia.
The highest ten international locations importing Indian wheat in 2020-21 have been Bangladesh, Nepal, the United Arab Emirates, Sri Lanka, Yemen, Afghanistan, Qatar, Indonesia, Oman and Malaysia.
India accounts for lower than 1 per cent on the planet’s wheat export. Nonetheless, its share has increased from 0.14 per cent in 2016 to 0.54 per cent in 2020. India is the second largest producer of wheat with a share of round 14.14 per cent on the planet’s complete manufacturing in 2020.
India produces round 107.59 million tonne of wheat yearly whereas a significant chunk of it goes in the direction of home consumption.
Main wheat rising states in India are Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, Rajasthan, Bihar and Gujarat.
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