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India recently banned wheat exports, in a bid to control food inflation and maintain ample reserves after the recent harvest was ravaged by an extraordinary heat wave. The decision could cripple some countries that have turned to New Delhi to compensate for the decline in grain exports from Ukraine.
With our correspondent in New Delhi, Sebastian Farcis
India’s harvest hits record, and Prime Minister Narendra Modi has promised to “ feed the world » by sending grain to cereal-dependent countries Ukraine and Russia.
But that’s without taking global warming into account: the historic heatwave March has damaged India’s cobs and is expected to reduce yields by more than 4% from last year, according to forecasts. The deficit comes as annual food inflation here has risen to 8.3% in April.
Therefore, the Indian government keeps this wheat for domestic consumption – the Indian government prohibits further private exports, but reserves the right to sell it to countries where it is most in need.
Egypt and Turkey, until now Ukrainian customers, have placed outstanding orders with India. Other African and Middle Eastern countries are also interested.
Listen again to the Chronicle of Raw Materials: Cereals from Ukraine: export logistics challenges
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