India also exported wheat to other emerging markets such as Israel, Turkey, Indonesia, Mozambique and Tanzania
India also exported wheat to other emerging markets such as Israel, Turkey, Indonesia, Mozambique and Tanzania
India exported a record 1.4 million tonnes of wheat in April, four trade sources said, bringing some relief to grain markets as buyers seek alternatives to Black Sea supplies hard-hit by the war in Ukraine.
April is the first month of the fiscal year. India, the world’s second largest wheat producer, exported a record 7 million tons of grain in fiscal year 2021-22.
India is the only major wheat supplier this time of year, and its grain exports have risen sharply since Russia invaded Ukraine in late February.
In April 2021, it exported only 242,857 tons of wheat.
With the new season harvest in April, wheat shipments could increase further this month.
“Shipments could increase to 1.5 million tons in May,” a New Delhi-based trader told a global trading firm. “Wheat stocks and railcar availability have improved in recent weeks and that will help ship more wheat in May.”
Asian and Middle Eastern buyers are buying Indian wheat because it’s cheaper than alternatives, he said.
India has exported wheat to South Asia, Southeast Asia, the Middle East, Europe and North Africa.
As shipments dwindled from Ukraine and Russia, which together accounted for about 29% of global wheat exports, leading wheat importer Egypt agreed to buy the grain from India for the first time.
India also exported wheat to other emerging markets such as Israel, Turkey, Indonesia, Mozambique and Tanzania, traders said.
In addition, the United Nations World Food Program sourced wheat from India to supply Somalia, Kenya and Djibouti, they added.
In April, Indian traders signed export deals for wheat between $295 and $340 a ton free on board, said Rajesh Paharia Jain, a New Delhi-based trader.
