India’s wheat exports are set to be at an all-time high in the current year after surpassing 2.09 million tonnes (mt), achieved during 2020-21.
“We are giving thrust on building infrastructure in the value chain for giving boosts to cereal exports in collaboration with States, exporters and farmer producer organisations (FPOs)," said M Angamuthu, chairman of government's agri export promotion body Apeda.
Wheat exports rose by more than 527 per cent to 3.2 mt during the first seven months (April-October) of the current fiscal year. The shipments were only 0.51 mt during the April-October period of 2020-21. In terms of value, exports rose by 546 per cent to $ 872 million from $135 million.
Wheat exports have registered a 48.56 percent compounded annual growth rate (CAGR) during 2016-2020, Apeda said in a statement. In value terms, exports were $243 million in 2020 against $ 50 million in 2016.
Major export destinations of Indian wheat include neighbouring Bangladesh (with the largest share of 54 per cent), Nepal, Afghanistan, Sri Lanka as well as the United Arab Emirates, Yemen, Qatar, Indonesia, Oman and Malaysia.
In 2020-21, India entered new markets -- Yemen, Afghanistan, Qatar and Indonesia.
The top ten countries, which accounted for more than 94 per cent of India’s wheat exports in 2016-17, now have a 99 per cent share in exports in 2020-21 both volume and value terms.