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Egypt approves India as wheat provider, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Friday stated Egypt, which is among the largest importers of wheat from Ukraine and Russia, has accredited India as a wheat provider. There is a pointy decline in availability of wheat within the international markets because of the ongoing battle between Russia and Ukraine. Both the nations are main producers and exporters of wheat.

Egypt imported wheat price about USD 1.eight billion from Russia and USD 610.eight million from Ukraine in 2020.The African nation is trying to import 1 million tonne of wheat from India and would want 2,40,000 tonne in April.

“Indian farmers are feeding the world. Egypt approves India as a wheat supplier. Modi Govt. steps in as the world looks for reliable alternate sources for steady food supply. Our farmers have ensured our granaries overflow and we are ready to serve the world,” Goyal stated in a tweet.

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 had been price USD 61.84 million, which rose to USD 549.67 million in 2020-21.

India’s wheat exports are primarily to neighbouring nations 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 prime ten nations importing Indian wheat in 2020-21 had 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. However, its share has elevated 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 whole manufacturing in 2020.

India produces round 107.59 million tonne of wheat yearly whereas a serious chunk of it goes in the direction of home consumption.Major wheat rising states in India are Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, Rajasthan, Bihar and Gujarat.

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