Heatwave-hit India says no plans to curb wheat exports
World’s No. 2 wheat producer has major buffer stocks and is ready to boost exports
India has no plans to curb wheat exports — needed to help plug the gap left by the Ukraine war — despite the current heatwave hitting output, the government said.
The world’s number two wheat producer has major buffer stocks and has said it is ready to increase exports to countries hit by falling supplies from Ukraine and Russia.
But its hottest March on record and a heatwave in recent days have sparked speculation that India might instead prioritise domestic supplies in the country of 1.4 billion people.
Local media quoted Sudhanshu Pandey, India’s food secretary, as saying on Wednesday that wheat production was expected to fall at least five per cent this year from 110 million tonnes in 2021.
But he added: “I don’t see any controls on exports.”
Last month, Commerce and Industry Minister Piyush Goyal said India would export 10 million tonnes of wheat, up from seven million, this FY.
Farmers’ efforts
“Our farmers have ensured that not just India but the whole world is taken care of,” Goyal told reporters.
Russia and Ukraine together account for more than a quarter of international wheat supplies and global prices have soared to record highs in recent weeks.
Rising prices, caused also by fertiliser shortages and poor weather, have fuelled inflation globally and raised fears of famine and social unrest in poorer countries. Indian traders have already contracted to export 4 million tonnes so far in 2022-23, Bloomberg News reported, citing the food ministry. After Egypt, Turkey has also given approval to import wheat from India, it said.