Booming wheat exports from India to help ease global shortage

Booming wheat exports from India to help ease global shortage

The country is the top global producer of wheat after China and has the potential to ship 12 million tons to the world market in the 2022-23 year, the most on record, according to the median of five estimates in a Bloomberg survey of traders, millers and analysts.





March 29, 2022 / 07:08 AM IST





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In a world where people are concerned more than ever about food shortages and rising inflation, India’s warehouses are brimming over with grain and the country’s farmers are gearing up for yet another record harvest.

The country is the top global producer of wheat after China and has the potential to ship 12 million tons to the world market in the 2022-23 year, the most on record, according to the median of five estimates in a Bloomberg survey of traders, millers and analysts. That compares with shipments of 8.5 million tons in 2021-22, U.S. Department of Agriculture data show.

Prices of farm commodities were already on a tear before the Russian invasion of Ukraine as drought shriveled global harvests and demand increased, helping send world food costs to the highest on record. The war made matters even worse because it