Business

100-150 lakh tonne wheat exports likely this year, India to export wheat to Egypt: Piyush Goyal

Commerce and industry minister Piyush Goyal on Friday said that India may export 100-150 lakh tonne wheat this year as against 70-73 lakh tonne in the just ended fiscal. India’s overall wheat exports were two lakh tonne till two years ago.

His statement comes after Egypt agreed to import wheat from India and approved it as a wheat supplier.

“They (Egyptian authorities) visited our farms after end of March…The issue was stuck for 10 years. Now india will export wheat to Egypt,” Goyal told reporters.

ET had last month reported that the commerce and industry ministry is exploring new potential markets for Indian wheat in Egypt, Turkey and Italy as the Russia-Ukraine conflict has impacted its shipments globally.

India has been exporting to key wheat importers such as Bangladesh, Indonesia, Philippines, Nigeria and Japan. Egypt, Turkey, China, Italy, Algeria, Morocco, Brazil, South Korea, the Netherlands and Spain are the other major wheat importers.

“The approval has come today only. Now we will send our delegation there. They’ve indicated that they’ll start with a few of their large importers. We will send good quality wheat so as to become a permanent supplier,” Goyal said.

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On the overall export target for FY23, the minister said: “It is a challenging time. Covid has not ended. The conflict is causing so much disruption in the world both in terms of currency transaction and in terms of supply chains, also in terms of shipping and container availability. Shipping routes are also significantly impacted. The world is facing turbulent times.”

India's merchandise exports rose to a record $418 billion in FY22.

Goyal said that exports in April first week are $9 billion despite April normally being a slow month.

On Indonesia granting a blanket license to most Indian food testing labs for three years, a year after barring the approval given to certification agencies based in India, Goyal said that Jakarta has conveyed about more opportunities where they want New Delhi to export more agricultural commodities

“Indonesia has accepted all our shipments. The problem is solved,” he said.

The Open Magazine of India by Artmotion Network (https://magazine.armotion.com/)

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