Egypt approves India as a wheat supplier announces Commerce Minister Piyush Goyal
Union Minister Piyush Goyal announced that Egypt approved India as a wheat supplier.
Taking to the micro-blogging site, Union Minister Piyush Goyal said, “Indian farmers are feeding the world. Egypt approves India as a wheat supplier. Modi Govt. steps in as world looks for reliable alternate sources for steady food supply. Our farmers have ensured our granaries overflow & we are ready to serve the world.”
According to the statement issued by the Egyptian Ministry of Agriculture and Land Reforms, the delegation from Egypt’s Agriculture Ministry who is on a visit to India access various grades and quality of the grain. The delegation also discussed the possibility of strengthening cooperation between the sides including facilitating the movement of Egyptian agricultural exports to India.
Due to disruption in supply chain amidst the ensuing Russia-Ukraine crisis, Egypt is seeking to secure wheat from an alternate resource. Earlier in 2020, Egyptian import of wheat from Russia and Ukraine stood at $1.8 billion and $610.8 million respectively.
According to the Ministry of Commerce and Industry, India has reported a wheat export worth of USD 2352.22 million in the last three years, including the first ten months of current fiscal 2021-22. In 2019-20, the wheat export rose to USD 549.67 million in 2020-21 from USD 61.84 million earlier.
Also, India’s export of wheat recorded a huge surge at USD 1742 million during April-January 2021-22, growing 387 per cent over the corresponding period in 2020-21 when it touched USD 340.17 million.
India’s wheat exports are mainly to its neighboring countries. The top ten countries importing wheat from India are Bangladesh, Nepal, United Arab Emirates, Sri Lanka, Yemen, Afghanistan, Qatar, Indonesia, Oman and Malaysia.
