Russia's invasion of Ukraine in late February has driven up global wheat prices and disrupted Black Sea shipping, though wheat shipments from Russia continued in March
India's new season wheat harvest is underway, with this year's production pegged at a record 111.32 million tonnes - making it the sixth season in a row that the country has produced a surplus.
A fire broke out on the farms of Kachhwa village in Haryana's Karnal district on Sunday destroying standing wheat crop spread over 200 acres.
India achieved its target of exporting 7 mt of wheat on March 21, according to the Indian government, which is yet to issue wheat shipment data for the last 10 days of March
A quantity of 34,917 tonnes of wheat has been procured till April 3, benefitting 3,510 farmers with MSP value of Rs 70.36 crore
Goyal says wheat exports in FY23 will be over 10 million tonnes
The country's wheat exports are likely is cross 10 million tonnes during 2022-23, due to increasing demand for the commodity in world market, Commerce and Industry Minister Piyush Goyal
"The total export of wheat in terms of quantity during 2021-22 (till 21st March 2022) was 70.30 LMT"
However, traders say if free foodgrains scheme goes beyond September and there is another Covid wave that requires more relief, then the closing stock position could turn precarious
Wheat market prices higher than MSP; UP targeting to buy 6 MT
The country is the top global producer of wheat after China
Chicago wheat and corn futures fell, ahead of Ukraine and Russia heading for peace talks, with worries over surging COVID-19 cases in China weighing on commodities markets further
Exporters say they aren't merely looking to serve a stop-gap requirement but want to become credible long-term suppliers
The notice comes as Chinese authorities spare no effort to raise domestic production in spring ploughing season, which started from early April
Exporters want de-clogging of ports to further push shipment
Countries like Australia and India have responded with increased grain exports, but there's little room for others to immediately do the same, mainly due to recurrent drought, experts have said
Move follows rising global demand for Indian wheat due to the Russia-Ukraine crisis
India is in final talks to begin wheat exports to Egypt, while negotiations are also going on with countries such as China and Turkey, after Russia's invasion of Ukraine upended global supplies
Consumers may have to pay more for daily essential items with FMCG companies mulling another round of price hike to ease inflationary pressure on commodity prices of items such as wheat, palm oil
India is looking forward to starting wheat export to several new countries beyond its Asian/South Asian neighbours.