Wheat Stocks

Export demand from India has seen a surge this year due to the shortage of wheat in the world markets because of the Russia-Ukraine war

The government data highlighted that India's expected production of wheat for 2022-23 remains at near 105 million metric tonnes (MMT)

Farmers have been holding on to their produce as the price of wheat in the open market recouped some of the losses it suffered in the aftermath of the ban

Here are the top Business Standard headlines on Friday

India is the only major supplier of wheat at this time of year, and its exports of the grain have surged since Russia invaded Ukraine in late February

India has a wheat stockpile estimated at about 100 million tonnes, which exceeds the requirements for a safety net

Experts feel this could keep prices of major farm commodities and products dependent on them, such as poultry and meat, at an elevated level for quite some time

The country's wheat exports crossed 70 lakh tonnes in 2021-22 as against 21.55 lakh tonnes in 2020-21, according to the official data

India can become a reliable grain exporter

India is looking forward to starting wheat export to several new countries beyond its Asian/South Asian neighbours.

India is rolling out ambitious measures over the coming weeks to try to establish the country as a dominant exporter of high-quality wheat as importers scramble for supplies after Ukraine invasion

Weak demand and favourable weather across the major producing region is expected to keep prices under pressure

Prices of wheat in the local market have leapt 40% since April, 2016

The wheat stock position in the country is comfortable, as the government had 32.64 million tonnes in the central pool at the beginning of June, according to the official statement