India on On Sunday, it said it would keep the window open for wheat exports to meet the food deficit countries In the government level despite limitations announced Two days ago.
India’s Commerce Minister PVR Subrahmanyam told reporters government will also allow private Companies must fulfill their previous commitment to export nearly 4.3 million tons of wheat until July. India exported 1 million tons of wheat in April.
India mainly exports wheat to neighboring countries countries like Bangladesh, Nepal and Sri Lanka.
notice in The government Directorate newspaper of foreign trade on Friday said a spike in global the prices for Wheat threatens food security of India and neighboring countries and weak countries.
a key aim, shoot of restrictions on exports to control rising local prices. World wheat prices rose more More than 40% since the start of The year.
Before the war, Ukraine and Russia calculated for the third of global Wheat and barley exports. Since Russia February 24 invasionUkraine’s ports were closed, civilian infrastructure and granaries were banned destroyed.
At the same time, the wheat crop in India suffered from a record-has crashed heat The wave that hinders production.
He said this is wheat production in India year came down Three million tons of 106 million tons last year. Wheat prices rose up by 20-40% in India.
“The current rise in Prices seem to be a panic reaction, not a reaction on real breakdown in Display or sudden shooting of demand, said Subrahmanyam.
Although it world’s secondBiggest Producer of Wheat, India is the most consumed of the wheat it produces. had a set a goal of Export 10 million tons of cereal in 2022-23, looking to capitalize on capitalization on The global Wheat supplies disrupted by war and finding new markets for its wheat in Europe, Africa and Asia.
Up to 90 million tons of Wheat was consumed in India last year out of a total Produce of Subramaniam said 109 million tons, adding that India exported 7 million tons of wheat last year.
