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India sells record 1.4 million tonne wheat in April, could export 1.5 MT in May

Other News Materials 11 May 2022 11:09
India sells record 1.4 million tonne wheat in April, could export 1.5 MT in May

India exported a record 1.4 million tonnes of wheat in April, 4 commerce sources stated, offering some reduction to grain markets as patrons scramble for alternate options to Black Sea provides hit exhausting by the struggle in Ukraine.

April is the primary month of the fiscal yr. India, the world’s second-biggest wheat producer, exported a record 7 million tonnes of the grain in fiscal 2021-22.

India is the one main provider of wheat presently of yr, and its exports of the grain have surged since Russia invaded Ukraine in late February.

It exported simply 242,857 tonnes of wheat in April 2021.

With the brand new season crop gathered in April, wheat shipments could rise additional this month.

“In May, shipments could rise to 1.5 million tonnes,” stated a New Delhi-based vendor with a world buying and selling agency. “Wheat supplies and railway cars’ availability have improved in the last few weeks and that will help ship out more wheat in May.”

Buyers from Asia and the Middle East are buying Indian wheat, as it’s cheaper than alternate options, he stated.

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