Egypt’s latest move comes as the Ukraine-Russia conflict has affected the availability of wheat in the market.
Trivandrum, First Published Apr 15, 2022, 1:05 PM IST
India will now import wheat into Egypt, one of the largest importers of wheat from Ukraine and Russia. Piyush Goel, Minister of Commerce and Industry, has said that Egypt has allowed India to supply wheat. The conflict between Russia and Ukraine has led to a significant decline in the availability of wheat in the global market. Following this, Egypt decided to import wheat from India. Ukraine and Russia are the major producers and suppliers of wheat. In 2020, Russia imported $ 1.8 billion worth of wheat. Egypt imported $ 610.8 million worth of wheat from Ukraine in 2020. Egypt’s decision to import wheat from India comes amid a crisis in the Ukraine-Russia war. Egypt is set to import 1 million tonnes of wheat from India.
Indian farmers are becoming food suppliers all over the world. Wheat is transported from granaries in India to various parts of the world. Goyal tweeted that the Modi government is ready for a sustainable food supply as the world searches for reliable export sources.
Wheat exports in the 2021-22 financial year increased compared to the previous year. Exports increased from $ 340.17 million to $ 1.74 billion. Wheat exports were $ 61.84 million in 2019-20, up from $ 549.67 million in 2020-21. India exports wheat mainly to neighboring countries. The top ten importers of Indian wheat in 2020-21 are Bangladesh, Nepal, United Arab Emirates, Sri Lanka, Yemen, Afghanistan, Qatar, Indonesia, Oman and Malaysia. India produces about 107.59 million tonnes of wheat. A large portion of it goes to domestic consumption every year. The major wheat growing states in India are Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, Rajasthan, Bihar and Gujarat.
Last Updated Apr 15, 2022, 1:05 PM IST
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