Russia-Ukraine crisis may give India opportunity to export more wheat

What is the News?

The Russia-Ukraine conflict may give India an opportunity to ship more wheat in the global markets.

How much do Russia and Ukraine contribute to Wheat exports?

Russia is the world’s largest exporter of wheat, accounting for more than 18% of international exports. In 2019, Russia and Ukraine together exported more than a quarter (25.4 %) of the world’s wheat.

The top five countries that exported the highest dollar value worth of wheat include Russia, the United States, Canada, France and Ukraine.

Egypt is the world’s biggest importer of wheat. Combined, Russia and Ukraine cover more than 70% of Egypt’s imported wheat demand.

Turkey is also a big spender on Russian and Ukrainian wheat, with 74% of its imports coming from those two countries in 2019.

What is India’s contribution to Wheat exports?

India is the second-largest producer of wheat, with a share of around 13.5% of world total production. India produces around 107 MT of wheat annually, with a major chunk of it going towards domestic consumption.

India accounts for even less than 1% of world wheat export. However, its share has increased from 0.14% in 2016 to 0.54% in 2020. Presently, India’s central pool of wheat stands at 24.2 million tonnes, twice more than the buffer and strategic needs.

Source: This post is based on the article “Russia-Ukraine crisis may give India opportunity to export more wheat” published in The Hindu on 28th February 2022.