Why are India’s wheat exports up sharply in this year?

India has surely benefited from the war between Russia and Ukraine, especially considering that Ukraine is the bread basket for much of Asia and Europe. Indian wheat exports will cross 7 million tonnes this year with 6.6 million tonnes of wheat exports already achieved by the end of February 2022 and with still one month to go.

India is the second biggest producer of wheat and the war situation in Ukraine increased demand for Indian wheat. The wheat benchmark prices are up 40% on the CBOT. Russia and Ukraine account for 30% of global wheat exports and these are going to be hit by a combination of sanctions, embargoes and other restrictions on movement.