The war in Ukraine has presented a rare opportunity for India to profitably export large quantities of wheat from its stockpiles. But cashing in on the opportunity isn’t without risks and hurdles, experts, traders and officials said. Global prices have surged above the domestic minimum support price.
India is set to export a record 7 million tonne of wheat this year, higher than the previous record of 6.5m tonne in 2012-13. The central government is pushing to fill the gap, asking diplomatic missions to facilitate outbound shipments.
The international Chicago benchmark for wheat rose 50% after war broke out in eastern Europe, with global prices touching nearly $14 a bushel (approximately 30kg).
For Detailed News: Hindustan Times
