{"id":178128,"date":"2022-04-07T21:08:27","date_gmt":"2022-04-07T15:38:27","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=178128"},"modified":"2022-04-07T22:01:43","modified_gmt":"2022-04-07T16:31:43","slug":"export-opportunity","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/export-opportunity\/","title":{"rendered":"Export Opportunity"},"content":{"rendered":"\n<p><strong>News: <\/strong>Union Commerce and Food Minister Piyush Goyal\u2019s stated optimism about India\u2019s wheat exports scaling a new high in FY23, though his projection of the volume of likely shipments being around 10 million tonnes seems rather modest.<\/p>\n<h5><strong>What are the new opportunities for Indian exports?<\/strong><\/h5>\n<p><strong>Russia-Ukraine war: <\/strong>Russia and Ukraine together normally <strong>account for 25-30% of the wheat supplies in the global market.<\/strong> The void caused by their absence can be filled to a sizable extent by India.<\/p>\n<p>Most wheat-importing countries, particularly those in<strong> Africa, West Asia, and Southeast Asia<\/strong> are now looking towards India to meet their requirements.<\/p>\n<p>States such as <strong>Madhya Pradesh, Uttar Pradesh, and Gujarat<\/strong>, are already making special efforts to boost exports. The Railways has assured them of full support to move the cargo to Kandla and other ports on priority.<\/p>\n<h5><strong>What is India set to gain from these exports?<\/strong><\/h5>\n<p>Food exports are now a <strong>dire necessity rather than merely an opportunity-driven initiative<\/strong>. This is because the country\u2019s food grain output has consistently outpaced consumption.<\/p>\n<p>Wheat <strong>prices in the international market are now ruling substantially higher than the domestic prices.<\/strong> It allows exporters to buy stocks from farmers at rates far above the minimum support price (MSP) and yet have a sufficient profit margin.<\/p>\n<p>This would also help <strong>trim official grain stockholding<\/strong> to a manageable size to rein in the ever-burgeoning food subsidy.<\/p>\n<h5><strong>Way Forward: <\/strong><\/h5>\n<p>India should grab this export opportunity to create the much-needed export outlet for the surplus grains.<\/p>\n<p><strong>Source: <\/strong>This post is created based on the article \u201c<strong>Export Opportunity\u201d <\/strong>\u00a0published on<strong> 7<sup>th<\/sup> April 2022<\/strong> in Business Standard.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>News: Union Commerce and Food Minister Piyush Goyal\u2019s stated optimism about India\u2019s wheat exports scaling a new high in FY23, though his projection of the volume of likely shipments being around 10 million tonnes seems rather modest. What are the new opportunities for Indian exports? Russia-Ukraine war: Russia and Ukraine together normally account for 25-30%&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/export-opportunity\/\">Continue reading <span class=\"screen-reader-text\">Export Opportunity<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[10503,216],"class_list":["post-178128","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-business-standard","tag-gs-paper-3","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704936440},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/178128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=178128"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/178128\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=178128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=178128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=178128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}