Buzz Update India is set to expand food exports in the wake of the Ukraine dispute TOU

Buzz Update India is set to expand food exports in the wake of the Ukraine dispute

 TOU

India is set to expand food exports in the wake of the Ukraine dispute

India is preparing to support Prime Minister Narendra Modi’s suggestion earlier this week to US President Joe Biden that India could supply the world with food stocks. The Ministry of Commerce has already set up an internal mechanism to facilitate food exports and prepare documents for relevant sanitary and phytosanitary (SPS) applications. The Russia-Ukraine dispute has given an additional impetus to the ministry’s efforts, which have boosted demand, especially for Indian wheat exports.

Commerce Minister Piyush Goyal, however, does not like to call it an “opportunity” for Indian food exports. “As the Prime Minister has said, it is time to address the sympathy and need that has arisen from this very unfortunate situation,” Goel said.

Internal Committee

However, the ministry is busy behind the scenes. An internal committee was set up to study 180 countries for food import requirements. For each country, specific import items are examined and relevant applications are made. The Ministry is consulting on exports on SPS measures and plans to prepare 2,000 SPS applications to facilitate exports.

“Extensive paperwork needs to be done. But when we have plenty we can definitely meet the need for work and food that we welcome, ”Goel said. Businessline. “Abundance” is an indication of India’s stock, which is 2.5 times higher than the current buffer terms for wheat. India has adequate supplies for PDS.

Growing Mena demand

In the wake of the Russia-Ukraine conflict, demand from the Middle East and North Africa (MENA) countries, which are completely dependent on the two countries fighting for wheat imports, has increased. In the last 40 days alone, contracts have been signed to export 30-40 lakh tonnes of wheat, which is almost half of the total exports in 2021-22.

An Egyptian delegation visited the Punjab Warehouse Corporation facilities on Wednesday

An Egyptian delegation visited the Punjab Warehouse Corporation facilities on Wednesday

A team from Egypt is currently in India to expedite wheat exports, which the Minister of Commerce in Dubai agreed with his counterpart, Egyptian Economic Development Minister Hala El-Sayed, in March. Egypt is one of the largest importers of wheat from Russia and Ukraine, and all previous attempts to get India to step in were in vain.

“We have been working for Egypt for many years. But when I met the Egyptian minister recently, the urgency became clear. Their teams are here now,” Goel said.

Published

April 13, 2022

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