Egypt, the world's top wheat importer, has approved India as a supplier to fill a significant void in the North African country's food stocks caused by the Ukraine conflict, officials said on Friday, a move that will open up a lucrative market for Indian farmers while also deepening agricultural ties between the two countries.
In the midst of a worldwide scarcity precipitated by the conflict, India has stepped up attempts to export wheat supplies from its huge domestic reserves.
India, the world's second-largest wheat producer, is in talks with "a number of nations, including Egypt, Turkey, China, Bosnia, Sudan, Nigeria, Iran, and others" about starting wheat exports, according to an official who requested anonymity. New farm export potential are expected to boost India's export revenues, which are expected to reach a record $418 billion (Rs 31.4 lakh crore) in 2021-22. Analysts predict domestic grain prices to grow as a result of exports, resulting in greater prices for farmers.
Egypt authorised Indian wheat types after a visiting delegation from that nation travelled Madhya Pradesh, Punjab, and Maharashtra to assess quality, storage, and other export factors. Egypt has traditionally depended on inexpensive Ukrainian and Russian wheat imports to fulfil local need. Together, the two warring nations account for up to 30% of world wheat exports and roughly 80% of Egypt's imports.
"Indian farmers are feeding the globe," trade minister Piyush Goyal tweeted on Friday. India has been approved as a wheat supplier by Egypt. As the globe searches for trustworthy alternative supplies of food, Prime Minister Narendra Modi's administration steps in. Our farmers have assured that our granaries are bursting at the seams, and we are ready to service the entire world."
"We are also aiming for a US$ 300-400 million export revenue, which would benefit both small-scale farmers and the central government in terms of income and reduced compulsory buying of certain commodities," said Fauzan Alavi, director of Allana Group, India's largest wheat exporter.
According to an official, food-testing laboratories are held to high quality standards. He said the railways and commerce ministries are working together to guarantee that more train carriages are delivered to ports in time for quick exports.
Wheat shipments have also been given priority by port officials. According to a food ministry official, depending on global demand, India might export up to 10 million tonnes.
