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Egypt approves India as wheat supplier

Tags: Economics/Business International News

Egypt, which is one of the largest importers of wheat from Ukraine and Russia, has approved India as a wheat supplier.

  • Egypt is likely to lift about one million tonnes of wheat from India, of which 240,000 tonnes will be shipped in April itself.

  • Export was approved after a rigorous process of field visits and checks in quarantine facilities in India by Egyptian authorities.

  • The teams visited wheat fields in Madhya Pradesh, UP and Punjab to check for themselves the quality of wheat produced in India.

  • India aims to export 10-11 million tonnes of wheat in FY23 due to the surge in global demand following the Russia-Ukraine crisis.

India’s wheat export

  • India's wheat exports rose to $1.74 billion in April-January 2021-22 as against $340.17 million in the same period last year.

  • In 2019-20, wheat exports were worth USD 61.84 million, which rose to USD 549.67 million in 2020-21.

  • India's wheat exports are mainly to neighbouring countries with Bangladesh having the largest share of more than 54 percent.

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