NEW DELHI (Pakistan Point News / Sputnik - 15th April, 2022) India is ready to start exporting wheat to Egypt following disruptions in grain supplies from other sources, Indian Minister of Commerce Shri Piyush Goyal said on Friday.
"Indian farmers are feeding the world. Egypt approves India as a wheat supplier. Modi Govt. steps in as world is looking for reliable alternate sources for steady food supply. Our farmers have ensured our granaries overflow and we are ready to serve the world," Goyal said on his social media.
Goyal also posted a link to a statement from the Egyptian Ministry of Agriculture and Land Reclamation, in which India was approved as the country of origin for wheat imports.
Prices for a number of food products began to grow in March across the globe following Ukrainian crisis. In response, Egypt has regulated prices for both subsidized and non-subsidized bread, banned the export of all types of edible oils, maize, wheat, flour, beans and a number of other products for three months.
Russia is the main supplier of wheat to Egypt. Prior to the conflict, Cairo also imported a significant amount of grain from Ukraine.
According to the United Nations World Food Program, Ukraine and Russia account for 30% of world wheat exports, 20% of world maize exports and 76% of sunflower supplies, so any interruption in production or supply could significantly drive prices upward.
