Traders have entered into contracts for the export of 30-35 lakh tonnes of wheat during the April-July period, buoyed by increasing demand for the commodity in the world market, Food Secretary Sudhanshu Pandey said on Friday.
The country's wheat exports crossed 70 lakh tonnes in 2021-22 as against 21.55 lakh tonnes in 2020-21, according to the official data.
"The trade estimate is that about 30-35 lakh tonne of wheat has been contracted for export during the April-July period of this year," Pandey told reporters.
The maximum quantity of wheat will be shipped from Gujarat, Rajasthan and Madhya Pradesh because of proximity of these states to ports and easier logistics, he told reporters.
As a result, private traders are procuring wheat for export from these states. If international prices rise further, traders may buy the grain from other states like Haryana and Uttar Pradesh, he said.
With private trade procuring wheat for export, there may be reduction in government procurement but it is too early to say. The government is, however, monitoring the situation regularly, he added.
Last week, Commerce and Industry Minister Piyush Goyal had said that the country's wheat exports could cross 100 lakh tonnes during the 2022-23 fiscal.
Many countries are sourcing wheat from India and other countries after Russia's invasion of Ukraine and the subsequent Western sanctions against Moscow curtailed their wheat supplies.
Indian government plans to promote wheat exports to cash in on higher wheat prices in the global market. India is the second-biggest producer of wheat in the world.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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