Egypt Approves India as Wheat Supplier: Goyal
[ABS
News Service dated 15th April 2022]
Union
Commerce and Industry Minister Piyush Goyal on Friday, April 15, 2022, said Egypt, which is one
of the largest importers of wheat from Ukraine and Russia, has approved India as a wheat supplier.
There
is a sharp decline in availability of wheat in the global markets due to the
ongoing conflict between Russia and Ukraine. Both the nations are major
producers and exporters of wheat.
Egypt
imported wheat worth about USD 1.8 billion from Russia and USD 610.8 million
from Ukraine in 2020.
The
African nation is looking to import 1 million tonne
of wheat from India and would need 2,40,000 tonne in April.
India's
wheat exports increased to USD 1.74 billion in April-January 2021-22 as against
USD 340.17 million in the same period last year.
In
2019-20, wheat exports were worth USD 61.84 million, which rose to USD 549.67
million in 2020-21.
India's
wheat exports are mainly to neighbouring countries
with Bangladesh having the largest share of more than 54 per cent in both
volume and value terms in 2020-21. It has entered new wheat markets such as
Yemen, Afghanistan, Qatar and Indonesia.
The
top ten countries importing Indian wheat in 2020-21 were Bangladesh, Nepal, the
United Arab Emirates, Sri Lanka, Yemen, Afghanistan, Qatar, Indonesia, Oman and
Malaysia.
India
accounts for less than 1 per cent in the world's wheat export. However, its share has increased 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 around 14.14 per cent in the world's total
production in 2020.
India
produces around 107.59 million tonne of wheat
annually while a major chunk of it goes towards domestic consumption.
Major
wheat growing states in India are Uttar Pradesh, Punjab, Haryana, Madhya
Pradesh, Rajasthan, Bihar and Gujarat.