As the Russian offensive against Ukraine intensifies, India is all set to export seven million tonnes of wheat in FY 22-23 as global prices of essential commodities start to rise, 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.
Already. the benchmark wheat prices in Chicago have shot up by over 40 per cent this week with rising concerns over disruption in the supply chain after sanctions were imposed on Russia have contributed to this surge in prices.
It must be noted that Russia and Ukraine together make up almost 30 per cent of the global wheat exports and disruptions in the Black Sea route have now led to the demands for Indian wheat in the last week or so.
India is now on its way to surpassing its previous record of 6.5 million tonnes of wheat shipments in the 2012-13 fiscal year.
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