The Bloomberg Agency revealed that India is in final talks to start exporting wheat to Egypt, the world’s largest importer, while negotiations are underway with countries such as China and Turkey after the Russian invasion to Ukraine upset global supplies.
India’s Commerce Ministry said in a statement that the country was in discussions to sell wheat to Bosnia, Sudan, Nigeria and Iran.
India is the second largest wheat producing country in the world, the report said, adding that the largest purchaser of Indian wheat in 2020-2021 was Bangladesh.
The Indian government has given the greenlight to make enough railways available to meet any immediate increase in demand for wheat exports, while port authorities have been asked to increase the number of terminals and containers dedicated to wheat, according to the ministry.
The Indian Agricultural and Food Export Development Authority, an arm of the Commerce Ministry, held a meeting last week on how to increase shipments.
India’s wheat exports more than quadrupled to nearly six million tons in the ten months ending January 31.
Data from the Indian Agriculture Ministry shows that wheat production is expected to rise to a record high in 2021-22 to 111.3 million tons, compared to 109.6 million tons in the previous year.