In April, India sold a record 1.4 million tonnes of wheat, and it is expected to export 1.5 million tonnes in May

India exported a record 1.4 million tonnes of wheat in April, according to four trade sources, bringing some relief to grain markets as buyers seek alternatives to supplies from the war-hit Black Sea in Ukraine.

April is the first month of the fiscal year. India, the world's second-largest wheat producer, exported a record 7 million tonnes of grain in the 2021-22 financial year. 

      

India is the only major wheat supplier at this time of year, and its grain exports have risen sharply since Russia invaded Ukraine in late February.

In April 2021, only 242,857 tons of wheat were exported. With the new season harvest in April, wheat shipments could increase further this month.

“Shipments could reach 1.5 million tonnes in May,” a New Delhi-based trader told a global trading firm. "Wheat stocks and railcar availability have improved over the past few weeks, which will help ship more wheat in May."

Asian and Middle Eastern buyers buy Indian wheat because it is cheaper than alternatives, he said.

India exported wheat to South Asia, Southeast Asia, the Middle East, Europe and North Africa.

As shipments from Ukraine and Russia, which together accounted for about 29% of global wheat exports, dwindled, Egypt, the top wheat importer, agreed to buy India's grain for the first time.

India also exported wheat to other emerging markets, including Israel, Turkey, Indonesia, Mozambique and Tanzania, traders said.

In addition, the United Nations World Food Program has obtained wheat from India to supply Somalia, Kenya and Djibouti, they added.

In April, Indian traders signed deals to export wheat between $295 and $340 a ton free on board, said Rajesh Paharia Jain, a New Delhi-based trader.


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