Egypt approves India as wheat supplier: Piyush Goyal

Egypt, which is one of the top importers of wheat from Ukraine and Russia, has authorised India as a wheat supplier, said Commerce and Industry Minister Piyush Goyal.

Wheat availability has decreased dramatically on worldwide markets as a result of the ongoing conflict between Russia and Ukraine. Wheat is a key producer and exporter in both countries.

In the year 2020, Egypt imported wheat worth USD 1.8 billion from Russia and USD 610.8 million from Ukraine. In April, the African nation plans to import 1 million tonnes of wheat from India, with a need of 2,40,000 tonnes.

‘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 said in a tweet.

In April-January 2021-22, India’s wheat exports grew to USD 1.74 billion, up from USD 340.17 million the previous year. Wheat exports totalled USD 61.84 million in 2019-20, rising to USD 549.67 million in 2020-21.

In both volume and value terms, Bangladesh has the highest part of India’s wheat exports in 2020-21, accounting for more than 54% in both volume and value terms. Yemen, Afghanistan, Qatar, and Indonesia are among the new wheat markets it has entered.

Bangladesh, Nepal, the United Arab Emirates, Sri Lanka, Yemen, Afghanistan, Qatar, Indonesia, Oman, and Malaysia were the top 10 importers of Indian wheat in 2020-21.

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India is responsible for less than 1% of global wheat exports. Its market share, however, has risen from 0.14 percent in 2016 to 0.54 percent in 2020. In 2020, India is the world’s second-largest wheat producer, accounting for roughly 14.14 percent of global production.

India produces roughly 107.59 million tonnes of wheat per year, with the majority of it used domestically. Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, Rajasthan, Bihar, and Gujarat are the major wheat-growing states in India.