Exports of agri commodities from the country are steadily increasing. Despite farmers’ agitation last year and earlier this year, India’s wheat exports could reach a record 7 million tonnes in the current financial year. Which shows more than double the growth of the previous year. Earlier in 2012-13, the country exported a record 6.5 million tonnes of wheat as against 2.5 million tonnes last season.
According to the US Department of Agriculture, India is one of the leading wheat exporting countries in the world. This season, India could be ranked ninth among the world’s top-10 exporters. Despite being one of the largest grain producers in the world, India’s contribution to wheat exports is less than one per cent. India is the second largest producer of wheat with about 14% of the world’s total production.
The country produces more than 1000 lakh tonnes of wheat annually but most of it is consumed in the country. This year, India will benefit from rising shipping prices in the world’s major exporting countries and export restrictions imposed by Russia. India exports wheat mainly to neighboring countries.
In FY20-21, Bangladesh had the largest share in terms of volume and value at over 54%. Other major importers of wheat from India are Nepal, UAE, Sri Lanka, Yemen, Afghanistan, Qatar, Indonesia, Oman and Malaysia. Wheat prices are on the rise due to deals for exports.