Notwithstanding the havoc caused by the corona infections in certain parts
of India, the country is all set to export around Two Lakh metric tons of wheat
to neighboring Bangladesh and Nepal involving a huge road and railway
Indian traders are
in talks to export over 150,000 mt of wheat to Bangladesh
Indian traders are in talks to export over 150,000 mt of wheat to
Bangladesh and around 50,000 mt to Nepal over the next few months, trade sources
were quoted by international media reports.
However, the average export prices for wheat are seen rising 10 per cent
from last year as the domestic prices firmed up amid tightening of supplies
following government procurement in a bid way to tide over the requirment of
Along with the likely rise in prices of foodgrains, their exports are also
seen declining in 2021-22 marketing year.
For the 2021-22 marketing year, the US Department of Agriculture has
estimated India’s wheat exports at 2.2 million mt against 2.3 million mt seen
in the previous year. The wheat marketing year runs from April through March.
India, the world’s second-largest wheat producer, is in a position to
export significant quantities after several years at a time when global
inventories are at two-year lows.
Exports became viable for India as Russian supplies were limited following
the announcement of export quota and floating tax,
“The exports are seen falling in the current marketing year, as the prices
may rise with supplies tightening with the government purchases are rising
sharply. Spike in government purchases may limit supply
FCI has so far
procured nearly 32 per cent of India’s overall output
So far, the Food Corp. of India procured around 34.8 million mt of wheat,
nearly 34% higher over the year. “ FCI has so far procured nearly 32 per cent
of India’s overall output in the current
year, data showed. India is expected to harvest 109.2 million mt of wheat and
the government has pegged overall wheat procurement at 42.7 million mt.
With the procurement increasing sharply this year, the average export
prices from India are seen going up by nearly 10 per cent.