Miller Magazine Issue: 151 July 2022

103 COUNTRY PROFILE MILLER / JULY 2022 The US Department of Agriculture (USDA) re- vised down its wheat export forecasts for India after the Modi government's decision to restrict wheat sales to abroad as of May 13. In a report released by USDA on 8 June, India's export fore- cast for the 2022-23 season (July-June) was revised as 6 million tons with a decrease of 2 million tons. The export ban comes after a heat- wave scorched India’s wheat belt this spring, leading to a smaller-than-expected 2022 crop. India’s export ban removes another source of affordable wheat for many low-income importing countries, adding stress to an already tight global market. Strong global de- mand has outpaced production, driving world wheat prices to their highest levels in a decade. In 2020/21, India emerged as an important wheat exporter to the Middle East and South Asia. Wheat exports in 2021/22 had been growing signifi- cantly, with exports reaching a record 6.8 million tons in the first 9 months of the trade year. Additionally, India’s exports have extended to markets traditionally supplied by Ukraine. India has suggested it may allow some exemptions to the ban on a case-by-case basis for government-to government sales for food security reasons. It has received requests for more than 1.5 million tons from several countries under the exemption. In addition to the export ban, the government of India is adjusting its domestic food security policies. Due to the tight wheat supply situation, the government has shifted to pro- INDIAN GRAIN MARKET

RkJQdWJsaXNoZXIy NTMxMzIx