Following the aftermath of the Russia-Ukraine war, many countries are looking for alternate sources to provide them with adequate supplies of commodities required in that particular region. The Russian invasion of Ukraine has resulted in a significant loss of global trade.
Since both Russia and Ukraine are significant exporters of staple foods such as wheat, corn, sunflower oil and more, the countries relying on both the countries’ shipments are in trouble. Russia exports about 18% of the global wheat exports to other countries. Russia and Ukraine combined export nearly 29% of the global wheat exports.
Indian Wheat Market
India’s wheat exports are nearly less than 1%, and it can be near a per cent of the global wheat exports. However, India is a pretty wide market when it comes to local production. India produces nearly 14% of the global wheat and produced about 108 million tonnes of wheat in 2021, as per the sources.
The Indian wheat exports have gone higher in the year 2021. As per India’s export data, India has produced the highest value of wheat in 2021. The represented data below shows the growing value of wheat exports from India. Each year the values have increased significantly.
Egypt Wheat Imports From India
Egypt and India were in talks about the Egypt wheat imports from India amid the Russia-Ukraine war. It is to note that Egypt is the world’s largest importing country and most probably, the highest wheat consuming country in the world with 60-70% consumption alone domestically.
According to sources, the Egyptian authorities take a careful look at the Indian farming facilities and cultivation of wheat in the country and then decide to go ahead with the deal to import wheat from India. The quarantine facilities were also thoroughly checked by the Egyptian authorities.
The value for wheat imports in Egypt from India is almost virtually non-existent, but the introduction of the bilateral share of Indian wheat with Egypt will be a new step taken by India to strengthen its ties with the Middle-East country and grow its exports in the region.
India Top Exporting Partners, 2021
India’s total exports of wheat amounted to $1.55 billion in the ending year 2021, as per India export data 2021. The wheat exports of India are as much as less than a percentage of the global exports, yet India is the largest producer of wheat. The highly domestic consumption of wheat in the domestic market contributes to a less share of the global wheat exports from India.
As per India exports 2020-2021, the top exporting countries for Indian wheat exports in 20212 are as follows: Bangladesh (57%), Sri Lanka (8.4%), UAE (8.1%), Indonesia (5.6%), Yemen (4.7%), Philippines (3.9%), Nepal (3.6%), Qatar (2.2%), Djibouti (1.5%), South Korea (1.4%).
Egypt is going to import nearly a million tons of wheat from India, among which 240,000 tons of wheat will be exported by India to Egypt by April this year. These are positive signs between India and Egypt’s bilateral trade and strengthen ties between the two. The gap filled by countries for commodities is essentially important amidst ongoing Russia-Ukraine tensions.