Country is on track to export a record 7 million tonnes this year
Russia’s invasion of Ukraine could make India a prominent wheat exporter on the world stage, reportsQuartz India.
Since the full-scale war was launched on February 22, Ukranian ports havehalted commercial activity, and Russia’s wheat exports havecome to a standstill.
Given the uncertainty, demand could shift to India,according to Nitin Gupta, vice-president at Olam Agro India. The country is on track to export a record7 million tonnesthis year.
Asian countries such as the Philippines, Bangladesh, South Korea, Sri Lanka, and the UAE are among the main buyers of Indian wheat. Others —Lebanon, for one— are also turning to India.
US Corn Price Idx:ZCPAUS.CM
open: 6.9023
high: 6.9023
low: 6.6848
close: 6.7926
US Soybean Price Idx:ZSPAUS.CM
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US Hard Red Winter Wheat Price Idx:KEPAUS.CM
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low: 8.0848
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US Soft Red Winter Wheat Price Idx:ZWPAUS.CM
open: 7.5497
high: 7.6775
low: 7.4014
close: 7.4256
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