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<ul class="summary-list"><li>Wheat prices have surged over the past month, climbing to their highest level since August.</li><li>Global geopolitical conflict and extreme weather have impacted supply.</li></ul>Wheat prices have soared to their highest level in eight months thanks to a series of disruptions stemming from geopolitical conflict and extreme weather events.Chicago SRW wheat futures continued to surge throughout April, rising 15% in just the last month to trade at the highest level since August, according to Bloomberg data. Stockpiles of wheat have been drawn lower largely due to weather events and geopolitical disruptions. That includes excess rain in Europe and dry soil in Ukraine, Russia, Australia, and the US, all major wheat exporters. Bloomberg notes that strong harvests of the grain among countries on the Black Sea have helped keep prices lower, but futures markets are pricing in expectations for supply pressures to soon send prices up again. In addition to weather events, Russia's war with Ukraine has also driven prices higher. Russia has <a href="https://markets.businessinsider.com/news/commodities/wheat-prices-russia-ukraine-attack-grain-black-sea-odesa-putin-2023-7">attacked key grain hubs in Ukraine</a>, which caused wheat prices to skyrocket in 2023. Ukraine's workforce has also been depleted by its need for soldiers to fight back against Russia's invasion. Higher wheat prices could stoke inflation, which has clocked in hotter-than-expected in the US for the last three months. Consumer prices grew <a href="https://www.businessinsider.com/inflation-cpi-food-energy-gas-prices-consumer-price-index-2024-4">3.5% year-over-year in March</a>, with food prices surging 2.2%.

Wheat prices have surged to 8-month highs amid global conflict and extreme weather

<ul class="summary-list"><li><keyword id="11909001" type="UNKNOWN" weightage="60" keywordseo="wheat" source="Orion">Wheat</keyword> soared by as much as 5.2% on Monday against a backdrop of poor harvest forecasts and an India-Egypt trade deal.</li><li>Chicago wheat futures were last up 5.1% to $10.93 per bushel from their previous close of $10.45. </li></ul><keyword id="14129772" type="UNKNOWN" weightage="60" keywordseo="wheat-prices" source="Orion">Wheat prices</keyword> jumped by the most in almost a month on Monday, after India and Egypt considered a deal to swap grain for fertilizer and as the US government predicted a poor harvest that could put global supply under even more pressure.Chicago wheat futures rose by as much as <a href="https://uk.investing.com/commodities/us-wheat-news">5.4% to $10.95</a> per bushel, up from $10.45 at Friday's close. It was last trading up 5% at $10.92 by 09:40 a.m. ET. The <a href="https://www.ers.usda.gov/webdocs/outlooks/103927/whs-22e.pdf?v=4520.8">United States Department of Agriculture</a> (USDA) recently forecast wheat would reach $10.75 per bushel due to tight supply. The price of wheat has risen by 40% so far this year, down to a number of factors. The first is Russia's invasion of Ukraine in late February. Both are major producers of wheat and the conflict has disrupted both <keyword id="12534666" type="UNKNOWN" weightage="60" keywordseo="exports" source="Orion">exports</keyword> of existing grain supplies as well as the planting of next year's harvest, meaning any shortfalls won't be limited to this year.Another is adverse weather conditions, which is making for dismal harvests in the United States, as well as India, where heatwaves have devastated crops. According to the USDA, US <keyword id="13948540" type="UNKNOWN" weightage="60" keywordseo="wheat-production" source="Orion">wheat production</keyword> is forecast to fall to 1.729 billion bushels this year, down 4% from the 5-year average of 1.806 billion bushels. "For 2022/23, slightly larger production is projected compared to the previous year but this would still be the second lowest in the last 20 years based on pervasive drought in major hard red winter growing areas," the USDA said in its May 2022 outlook. A tightened global wheat supply was only exacerbated by <a href="https://markets.businessinsider.com/news/commodities/wheat-prices-soar-over-4-india-bans-exports-commodities-2022-5">India's banning of grain exports</a> to protect its own food security after a heatwave dramatically impacted domestic crop production. Russia's invasion of Ukraine also caused a <a href="https://www.businessinsider.com/millions-tons-grain-blocked-ukraines-ports-2022-5?r=US&amp;IR=T">blockage of nearly 4.5 million tons</a> of wheat at Ukraine ports adding to a grain shortage and surge in its prices.Soaring wheat prices also come on the back of a potential <a href="https://markets.businessinsider.com/news/commodities/india-egypt-talks-wheat-fertilizer-goods-swap-russia-food-shortage-2022-6">wheat-for-fertilizer trade deal</a> to ease mounting food supply shortages between India and Egypt. Under the terms of a potential agreement, India would export wheat to Egypt and would get fertilizer and other products in return, Egyptian Supply Minister Aly El-Moselhy told <a href="https://www.bloomberg.com/news/articles/2022-06-03/egypt-says-it-s-in-talks-with-india-on-a-wheat-for-goods-deal?srnd=markets-vp" target="_blank" rel="nofollow noopener">Bloomberg</a>.The trade deal would see 500,000 tons of wheat shipped to Egypt from India, which typically does not export much production, despite being one of the world's biggest growers. Other commodities from <a href="https://markets.businessinsider.com/news/commodities/food-export-bans-inflation-wheat-oil-palm-beef-2022-5#maize-7">beef to palm oil</a> have faced inflationary pressures as a result of export bans triggered by poor harvests and disruption from Russia's war in Ukraine. Industry experts told Insider to brace for a potential impact in the corn market.

Wheat soars more than 5% as a poor US harvest and India's grain-for-fertilizer swap deal threaten global supply

<ul class="summary-list"><li><keyword id="11909001" type="UNKNOWN" weightage="60" keywordseo="wheat" source="Orion">Wheat</keyword> futures surged on Monday after second largest producer India banned <keyword id="12534666" type="UNKNOWN" weightage="60" keywordseo="exports" source="Orion">exports</keyword> following a heatwave.</li><li>The price jumped 4.36% to $12.28 a bushel, its highest in two months.</li></ul>Wheat prices surged on Monday after <a href="https://www.businessinsider.com/india-bans-wheat-exports-says-ukraine-war-threatens-food-security-2022-5">India banned exports</a> of the crop due to a heatwave and rising domestic prices.India's Directorate General of Foreign Trade said in a notice on Friday that it would stop new shipments of wheat immediately but still allow exports to countries in need to help maintain their food security.<a href="https://markets.businessinsider.com/commodities/wheat-price">Wheat</a> prices rose 4.36% to $12.28 a bushel on Monday, having risen to as much as $12.74, its highest since mid-March. The export ban from the world's second largest wheat producer is hitting an already tight market, given the supply disruptions from the Russia-Ukraine war.Russia and Ukraine are both major wheat exporters, providing over 25% of global shipments. The war has created global shortages and sent grain prices surging. Ukraine's <keyword id="13948540" type="UNKNOWN" weightage="60" keywordseo="wheat-production" source="Orion">wheat production</keyword> could decline by 35% compared with last year, according to analyst forecasts. "The announcement comes as a major surprise to the market as the country previously indicated a push for higher exports after supply losses from Ukraine pushed up prices in the global market," strategists at ING said. "In fact, India was one of the few countries where the USDA was expecting <keyword id="13948541" type="UNKNOWN" weightage="60" keywordseo="wheat-exports" source="Orion">wheat exports</keyword> to increase and help fill the supply gap."India is not a big exporter of wheat. Together with China and Russia, it account for over 40% of total global wheat <keyword id="22637" type="UNKNOWN" weightage="60" keywordseo="production" source="Orion">production</keyword>. Yet most of India's crop is consumed domestically. Analysts had expected it to partially offset shortfalls from Ukraine.A scorching heat wave, with temperatures up to 45C, has drastically impacted domestic crop production and sent food prices jumping, adding to food security concerns, analysts said."India's export ban betrays the underlying stress that resides in the commodity space," Neil Wilson, chief <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> analyst at Markets.com, said. Poor weather conditions and the fallout from Russia's invasion of Ukraine have roiled global <keyword id="13232200" type="UNKNOWN" weightage="60" keywordseo="commodity-markets" source="Orion">commodity markets</keyword> and hit countries around the world, with production of crops like wheat set to fall."Last week, the USDA lowered its forecast for US wheat production by more than expected, while war-hit Ukraine could see its production and exports slump to the lowest since 2012/13," Saxo Bank's strategy team said. "In addition, European growers have already been struggling with warm and dry weather this early in the season."Indian officials said the ban is temporary and may be reversed. Some neighbouring countries would still get wheat exports. Read more: <a href="https://www.businessinsider.com/crypto-crash-bitcoin-tether-dollar-reserves-stablecoin-investing-cramer-roubini-2022-5" target="_blank" rel="noopener noreferrer">5 times Tether's dollar reserves have been questioned — and how the stablecoin's drop could affect the plummeting crypto market</a>

Wheat soars more than 4% to two-month highs after world's second largest producer India bans exports

The <keyword id="1893580" type="General" weightage="20" keywordseo="allana-group" source="Orion">Allana Group</keyword>, India's largest exporter of processed food products and agro commodities has been nominated as one of India's largest exporters of wheat. Catering to the greater need of the essential commodity, the Group ensured seamless facilitation of grains and has exported a total of 1,03,877 tonnes for the period of 2 years from 2019-2021. The group witnessed an exponential rise of 1812.30 per cent in their export, transporting over 1,48,000 tonnes in the period of 2021-22. The feat was lauded by the Agricultural and Processed Food Products Export Development Authority (APEDA). In these unprecedented times, the war crisis in Ukraine has led to the unique opportunity to fulfil a massive gap of grain export in the market. The <keyword id="1634518" type="General" weightage="20" keywordseo="allana" source="Orion">Allana</keyword> Group has aggressively functioned to connect India with the global supply chain and has aided in restocking the essential food grains across the world. The Middle East and Gulf countries saw the highest number of wheat exports from the country. Speaking on the commendable feat, Fauzan Alavi, Director, Allana Group said, "The Allana Group has built a great relationship with the Customers in the MENA region. Our expertise in sourcing the highest quality grain and state-of- the-art infrastructure has helped us to achieve this historic feat and bag Gold in the prestigious APEDA Export Awards. We are further targeting a 300-400 million USD export revenue that will not only aid small scale farmers to garner better prices for their crop but also the Central Government in terms of income and reduction in forced procurement of certain commodities." Allana's holistic efforts witnessed the Group winning Gold in Buffalo meat exports and Bronze in Fruit pulp and Frozen Foods exports for the YEAR 2019-20 as well as Gold in Buffalo meat and Cereals and Cereals Preparation exports and Bronze in Fruit Pulp exports for the YEAR 2020-21. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/ruchi-soya-icici-bank-zee-entertainment-and-other-hot-stocks-to-watch-out-for-on-march-24/slidelist/90410086.cms">Ruchi Soya, ICICI Bank, Zee Entertainment and other hot stocks to watch out for on March 24</a> <a href="https://www.businessinsider.in/policy/economy/news/the-russia-ukraine-conflict-could-shake-up-the-global-balance-of-power-in-3-big-ways-economist-intelligence-unit-says/articleshow/90406629.cms" data-type="tilCustomLink">The Russia-Ukraine conflict could shake up the global balance of power in 3 big ways, Economist Intelligence Unit says</a> <a href="https://www.businessinsider.in/science/health/news/omicron-subvariant-infections-on-rise-in-us-accounts-for-over-34-of-the-new-covid-19-infections/articleshow/90410070.cms" data-type="tilCustomLink">Omicron subvariant infections on the rise in US, accounts for over 34% of the new COVID-19 infections</a>

Allana Group emerges as one of India's largest exporters of wheat

From burgers to breakfast cereal, some key ingredients are being hit by food export bans &mdash; industry experts tell us what might be next

<ul class="summary-list"><li>President Vladimir <keyword id="11909347" type="UNKNOWN" weightage="60" keywordseo="putin" source="Orion">Putin</keyword> said on Thursday Moscow isn't blocking <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> grain <keyword id="12534666" type="UNKNOWN" weightage="60" keywordseo="exports" source="Orion">exports</keyword>, per Reuters. </li><li>The Russian leader added that the West is to blame for soaring global food prices. </li></ul>Russian President Vladimir Putin said Moscow isn't preventing Ukraine's grain exports from moving and that global food prices are soaring primarily due to Western <keyword id="12754126" type="UNKNOWN" weightage="60" keywordseo="sanctions" source="Orion">sanctions</keyword>. "We do not prevent the export of Ukrainian grain," Putin said Thursday, per Reuters. "The Ukrainian military has mined the approaches to their ports, no one prevents them from clearing those mines and we guarantee the safety of shipping grain out of there."The Russian leader reiterated his view that the crisis hitting global food <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> isn't because of <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>, but the West. Meanwhile, earlier this month, the <a href="https://www.un.org/press/en/2022/dsgsm1752.doc.htm#:~:text=Some%20193%20million%20people%20experienced,hunger%20on%20an%20unprecedented%20scale.">United Nations</a> said the world faced an unprecedented hunger and food crisis. "The ripple effects of the conflict in Ukraine are extending human suffering far beyond its borders, threatening global hunger on an unprecedented scale," UN Deputy Secretary-General Amina Mohammed said in a June 20 statement. Still, Putin on Thursday downplayed the Ukraine war as having an impact on the food markets because, out of the entire world, Ukraine's five million tons of <keyword id="11909001" type="UNKNOWN" weightage="60" keywordseo="wheat" source="Orion">wheat</keyword> stuck in the country is a comparatively small figure. "This is a quantity which does not affect the world markets in any way," he added, noting it accounted for only 0.5% of global production. Russia, for its part, accounts for roughly 20% of global wheat sales.

Putin says the West is to is to blame for soaring global food prices and that Russia is not blocking Ukrainian grain exports

<ul class="summary-list"><li>A Russian missile strike hit the Ukrainian <keyword id="12197410" type="UNKNOWN" weightage="60" keywordseo="port" source="Orion">port</keyword> city of Mykolaiv on Wednesday, <a href="https://www.reuters.com/world/europe/seven-russian-missiles-hit-ukrainian-city-mykolaiv-regional-governor-2022-06-22/">Reuters</a> reports.</li><li>The attack hit a vegetable oil export terminal owned by Viterra, a major agricultural trader. </li></ul>A vegetable oil export terminal at a major agricultural port in <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> was hit Wednesday during a Russian missile strike on the city of Mykolaiv, <a href="https://www.bloomberg.com/news/articles/2022-06-22/russian-attack-on-key-ukrainian-port-damages-viterra-terminal">Bloomberg</a> reports.The terminal, owned by major agricultural trader Viterra, <keyword id="12534666" type="UNKNOWN" weightage="60" keywordseo="exports" source="Orion">exports</keyword> up to 1.5 million tons of vegetable oil a year. <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s invasion of Ukraine has triggered <keyword id="11900969" type="UNKNOWN" weightage="60" keywordseo="cooking-oil" source="Orion">cooking oil</keyword> shortages around the world, as Western officials accuse <a href="https://www.businessinsider.com/us-accuses-russia-of-holding-global-food-supplies-hostage-2022-5">Putin of instigating a global food crisis</a> by attacking Ukrainian ports and blocking vital exports. "Viterra can confirm that its Everi terminal was hit and is currently on fire," a company spokesperson told Bloomberg, adding that nobody was killed at the facility. The Everi terminal is one of the company's six port terminals shipping grain and oil seeds to 60 countries around the world, according to its website.Russian forces have repeatedly launched rocket attacks against Mykolaiv, home to one of the largest seaports in Ukraine. Seven missiles hit the southern portion of the city on Wednesday, the Regional Governor Vitaliy Kim said on Telegram. The attack killed at least one person and damaged several buildings including a school, Mayor Oleksandr Senkevych said, per a <a href="https://www.reuters.com/world/europe/seven-russian-missiles-hit-ukrainian-city-mykolaiv-regional-governor-2022-06-22/">Reuters</a> report. Known as the world's "bread basket," Ukraine and Russia collectively ship 30% of global <keyword id="11909001" type="UNKNOWN" weightage="60" keywordseo="wheat" source="Orion">wheat</keyword> exports and around around <a href="https://www.usglc.org/blog/russias-assault-on-ukraine-threatens-global-food-security/">75%</a> of sunflower oil exports, causing <a href="https://www.businessinsider.com/putin-preparing-to-starve-developing-world-ukraine-war-yale-historian-2022-6">experts to worry</a> that Putin is "preparing to starve" countries dependent on those exports in order to win the war. "The Russian government seems to think that using food as a weapon will help accomplish what its invasion has not – to break the spirit of the Ukrainian people," US Secretary of state Antony Blinken said in May.

A vegetable oil export terminal at a major Ukraine port is 'on fire' following Russian missile strike

<ul class="summary-list"><li>The US has been quietly pushing companies to ramp up Russian fertilizer trade as a global food crisis looms, Bloomberg reports.</li><li>This year, Russian fertilizer <keyword id="12534666" type="UNKNOWN" weightage="60" keywordseo="exports" source="Orion">exports</keyword> have fallen 24%, per the report. </li></ul>The US wants companies to ramp up purchases of Russian fertilizer as global food costs rise and shortages loom, according to a Monday <a href="https://www.bloomberg.com/news/articles/2022-06-13/us-quietly-urges-russia-fertilizer-deals-to-unlock-grain-trade?srnd=premium">Bloomberg</a> report.Sources told Bloomberg that the government is quietly pushing companies to buy and carry more <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>n fertilizer. <keyword id="12754126" type="UNKNOWN" weightage="60" keywordseo="sanctions" source="Orion">Sanctions</keyword> fears have created a supply shortage and have fueled a global food crisis, and the US is moving to alleviate pressure with the United Nations by boosting deliveries of fertilizer, grain, and other supplies from Russia. This year, Russian fertilizer exports have dropped 24%, per Bloomberg data. Russia and Ukraine together account for a quarter of global grains trade. The challenge the US faces is that it must balance putting more pressure on Moscow while also limiting repercussions for the global economy and the world's food supply, which relies on a range of products from Russia. The US and EU have included fertilizer exemptions in their sanctions on Russia, per the report, which allow trade to continue flowing for the key commodity. According to Russia's Grain Union, <keyword id="11909001" type="UNKNOWN" weightage="60" keywordseo="wheat" source="Orion">wheat</keyword> exports doubled in May. At the same time, <a href="https://www.bloomberg.com/news/articles/2022-06-13/us-quietly-urges-russia-fertilizer-deals-to-unlock-grain-trade?srnd=premium">Bloomberg</a> reports that over 25 million tons of grain, sunflower oil, and other goods are stuck in Ukraine due to security concerns.While Western officials have called out the Kremlin for using food as a weapon in preventing Ukraine from exporting, Russia has said it hasn't attacked any ports, instead pointing to shipping disruptions resulting from sanctions.

The US wants companies to buy Russian fertilizer as agricultural commodities markets spiral and a global food crisis looms: report

<keyword id="93269" type="General" weightage="20" keywordseo="Bread" source="Orion">Bread</keyword> is one of the more crucial ingredients in maintaining world stability -- and it's getting dangerously expensive, <keyword id="4338433" type="General" weightage="20" keywordseo="Axios" source="Orion">Axios</keyword> reported. As food prices rise around the world due to the war, extreme weather and inflation, more countries are putting these kinds of <keyword id="469288" type="General" weightage="20" keywordseo="export-controls" source="Orion">export controls</keyword> in place -- but that only exacerbates the issue. At least 43 such protectionist measures have been implemented since the Russian invasion, according to data cited by the <keyword id="53556" type="General" weightage="80" keywordseo="new-york-times" source="Orion">New York Times</keyword> earlier this month. These include restrictions put in place by Russia and its ally, Belarus, along with Indonesia's ban on palm oil exports and China's prohibition on fertiliser exports. Wheat prices surged to near record-high levels Monday after <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> said it would ban exports as it deals with an extended, climate-change-driven heat wave. "These measures threaten to further tighten global supplies, and will create price pressure on food as we head further into 2022," Kelly Goughary, a senior research analyst at Gro Intelligence, told Axios. Goughary has not seen this level of export controls in her 15 years in the industry. Russia's invasion of Ukraine cut off exports from that region -- responsible for more than a quarter of the world's supply -- and sent buyers scrambling to find other source countries, like India. India is the ninth-largest wheat exporter in the world, according to USDA stats, Axios reported. Initially, Indian officials said the country would increase wheat production, before reversing course on Saturday. There are few commodities more important than wheat, Axios reported. Rising prices for bread have led to social unrest throughout history from the French and Russian revolutions to the Arab spring. More headwinds in the wheat market are coming, Goughary said. There are issues with drought in France that could drive up prices, while production in the US is down. The US is not a big exporter of wheat because it's too costly to ship overseas, but it's a supplier of "last resort", she added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/chidambaram-triggers-state-vs-center-revenue-debate-after-govts-excise-cut-on-fuel/articleshow/91732927.cms">Chidambaram triggers state vs center revenue debate after govt's excise cut on fuel</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/what-would-happen-to-twitter-if-elon-musk-backs-out-now/articleshow/91695359.cms">What would happen to Twitter if Elon Musk backs out now?</a>

Not just India, many countries are protecting their wheat to keep daily bread, affordable

New Delhi, The Centre on Tuesday announced sale of an additional 20 lakh tonnes of wheat in the open market to further bring down the retail prices of wheat and wheat flour (atta) and asked flour millers to cut rates with softening in wholesale price of grain. On January 25, the Centre had announced sale of 30 lakh tonnes of wheat in the open market from its buffer stock to check rise in prices of wheat and wheat flour (atta). According to an official statement, the government has decided that state-owned Food Corporation of India (FCI) will offload an additional quantity of 20 lakh tonnes of wheat in open market under the Open Market Sale Scheme (OMSS). The stocks will be sold through e-auction to flour mills/private traders/bulk buyers/manufactures of wheat products. The proposal to sell stocks in the open market was taken by a group of ministers, sources said. "So far, 50 lakh tonnes (30+20 lakh tonnes) of wheat have been decided to be offloaded under the OMSS. The reduction in reserve price along with additional offloading of 20 lakh tonnes of wheat will collectively help in reducing market price of wheat and wheat products for consumers," the statement said. Union Food Secretary Sanjeev Chopra held a video conference meeting with Food Corporation of India (FCI) and the representatives of flour millers/associations/ federations/atta, suji product manufacturers on to review the lifting of stocks in the second round of e-auction held recently. Flour millers were advised to bring down the prices of atta and other products in line with the reduction in market prices of wheat, the statement said. After announcement of the OMSS policy, the food ministry said that prices of wheat and atta have come down but still inflation figure for January 2023 was at 3 months high of 6.52 per cent. As per the government data, the average prices of wheat across major cities stood at Rs 33.15 per kilogram on Monday, while the average prices of atta (wheat flour) stood at Rs 37.63 per kg. Last month, the government announced plans to sell 30 lakh tonnes of wheat in the open market from its buffer stock under the OMSS. Out of the 30 lakh tonnes, the FCI is selling 25 lakh tonnes to bulk consumers like flour millers through e-auction and 2 lakh tonnes to states/Union Territories. Three lakh tonnes of wheat are being provided to institutions and state-PSUs at a concession for converting wheat into wheat flour. In the two rounds of e-auctions for bulk consumers, nearly 13 lakh tonnes wheat have been sold. FCI will offer 11.72 lakh tonnes of wheat during the third e-auction to be held on February 22. Last week, the ministry reduced reserve price of fair and average (FAQ) quality wheat to Rs 2,150 per quintal, while for Under Relaxed Specifications (URS) wheat to Rs 2,125 per quintal. These new reserve prices are applicable from the third sale of wheat through e-auction. Moreover, the rate of wheat has been reduced to Rs 21.50 per kg for sale to NCCF/NAFED/ Kendriya Bhandar/state government cooperatives/federations as well as community kitchen /charitable/NGO etc. for converting wheat into atta and then selling to consumers at Rs 27.50 per kg. To control price, the Centre had banned wheat exports in May last year. India's wheat production fell to 107.74 million tonnes in the 2021-22 crop year (July-June) from 109.59 million tonnes in the previous year due to heat waves in a few growing states. The procurement fell sharply to 19 million tonnes this year from around 43 million tonnes last year. Wheat production is estimated to rise at 112.18 million tonnes in the current 2022-23 crop year on higher acreage and better yield. However, the rise in temperature during this month in key producing states has again become a concern for the farm scientist and policy makers. On Monday, the government formed a committee to monitor the situation arising out of any unusual rise in temperature and its impact on the wheat crop and issue necessary advisories to the farming community to save the crop. The move comes as some parts of the country have started witnessing above-normal temperatures. In the first week of February, the maximum temperature in major wheat growing areas, barring Madhya Pradesh, remained higher than the average of the last seven years, as per the National Crop Forecast Centre (NCFC).

Centre to sell 20 lakh tonnes of wheat in open market from buffer stock to cool prices of atta

<ul class="summary-list"><li><keyword id="11892747" type="UNKNOWN" weightage="60" keywordseo="india" source="Orion">India</keyword> is immediately curbing wheat <keyword id="12534666" type="UNKNOWN" weightage="60" keywordseo="exports" source="Orion">exports</keyword> to protect its <keyword id="11894142" type="UNKNOWN" weightage="60" keywordseo="food" source="Orion">food</keyword> security.</li><li>The country will still export to countries in need at their request, officials said on Friday.</li></ul>India is the latest country to implement <a href="https://www.businessinsider.com/food-protectionism-countries-restrict-exports-security-inflation-wheat-palm-beef-2022-5?r=US&amp;IR=T">export bans on certain foods</a> as a result of the war in <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> and high inflation. <a href="https://www.bloomberg.com/news/articles/2022-05-14/india-says-wheat-exports-prohibited-with-immediate-effect?srnd=premium-europe">Bloomberg first reported the news</a>. India's Directorate General of Foreign Trade said <a href="https://content.dgft.gov.in/Website/dgftprod/9032ac12-29a8-4a67-8e3b-bd0dc07c39a5/Noti%2006%20Eng.pdf">in a notice</a> on Friday that it would stop new shipments of wheat immediately but still allow exports to countries in need to help maintain their food security. India's move to stop its wheat exports comes after <a href="https://www.businessinsider.com/food-protectionism-countries-restrict-exports-security-inflation-wheat-palm-beef-2022-5?r=US&amp;IR=T#governments-around-the-world-are-taking-steps-to-safeguard-food-supplies-as-inflation-soars-due-to-supply-chain-disruptions-caused-by-the-covid-19-pandemic-and-the-war-in-ukraine-1">several countries</a> limited or banned the export of food staples in the last year. Rising costs of products like fuel have had a knock-on effect on fertilizer, as well as agriculture production, leading to higher food prices. Russia <a href="https://www.businessinsider.com/food-protectionism-countries-restrict-exports-security-inflation-wheat-palm-beef-2022-5?r=US&amp;IR=T#1-russia-has-restricted-wheat-and-sunflower-oil-shipments-2">imposed </a>export caps and fresh taxes on wheat in 2021 to help tackle its domestic food inflation. Following its invasion of Ukraine, it brought in a temporary ban on exporting wheat to former Soviet countries. Kazakhstan also capped its wheat and wheat flour exports after prices rose by more than 30% since the beginning of the Ukraine war. Ukraine, which <a href="https://www.businessinsider.com/what-russias-invasion-ukraine-means-global-food-supplies-2022-3?r=US&amp;IR=T">accounts</a> for between 12% and 17% of the world's supply of wheat and corn, <a href="https://www.businessinsider.com/food-protectionism-countries-restrict-exports-security-inflation-wheat-palm-beef-2022-5?r=US&amp;IR=T#1-russia-has-restricted-wheat-and-sunflower-oil-shipments-2">stopped</a> exporting key food items, including wheat and oats, to protect its food security during the war. Argentina, meanwhile, brought in restrictions on beef. Other countries with export bans in place include Indonesia, the world's largest palm-oil exporter, which banned the shipping of palm oil products to other countries. This led supermarkets across the world to <a href="https://www.businessinsider.com/supermarkets-retailers-limit-cooking-oil-purchases-ukraine-war-sparks-shortage-2022-5?r=US&amp;IR=T">restrict</a> the amount of cooking oil shoppers can buy. The cost of food commodities has risen the most since 2008, the World Bank <a href="https://www.businessinsider.com/ukraine-war-has-led-to-the-biggest-commodity-price-shock-in-50-years-2022-4?r=US&amp;IR=T">said</a>, as the Ukraine war led commodity prices to soar and the World Bank expects the impact on food prices to last until 2024. This has meant <a href="https://www.businessinsider.com/foods-getting-more-expensive-this-year-inflation-supply-fertilizer-war-2022-4?r=US&amp;IR=T#sugar-and-sweets-3-4-more-expensive-5">higher prices</a> of food products at grocery stores on items like cooking oils, fresh, and processed fruit and vegetables, as well as cereals and bakery products.

India says it will ban wheat exports because the Ukraine war is threatening its food security

<ul class="summary-list"><li>Wheat and corn futures fell Wednesday as Russia rejoined an agreement that allows grain exports from Ukraine. </li><li>Russia withdrew from the deal, saying it couldn't guarantee the safety of civilian ships crossing the Black Sea because its navy had been attacked by Ukrainian drones. </li></ul>Wheat and corn futures fell Wednesday as Russia decided to rejoin an agreement that allows crucial grain exports from Ukraine. Russia will once again allow Kyiv to ship grain from the Black Sea under a program first brokered by the United Nations in July, according to news reports. Exports had been interrupted after Russia launched its war against Ukraine in late February.December wheat futures at the Chicago Board of Trade on Wednesday fell 5.9% to $8.49 a bushel, and December <a href="https://markets.businessinsider.com/commodities/corn-price">corn futures</a> lost 1.9% to $6.84 a bushel. Turkish President Tayyip Erdogan said Russian Defense Minister Sergei Shoigu told his Turkish counterpart that operations under the agreement would resume mid-day Wednesday, <a href="https://www.ft.com/content/841f620d-2f2e-43cd-a635-a61576ccff2d">according to the Financial Times</a>. Russia on Saturday <a href="https://markets.businessinsider.com/news/commodities/food-price-outlook-wheat-corn-soybean-oil-russia-ukraine-deal-2022-10">withdrew from the agreement</a>, saying it couldn't guarantee the safety of civilian ships crossing the Black Sea because its navy had been attacked by Ukrainian drones. Ukraine said that was a false pretext, <a href="https://www.reuters.com/world/europe/grain-ships-sail-ukraine-ports-russian-missiles-knock-out-power-across-country-2022-10-31/">according to Reuters</a>. Russia's defense ministry said it had received written guarantees from Ukraine not to use the Black Sea grain corridor for military operations against Russia, Reuters reported. "The Russian Federation considers that the guarantees received at the moment appear sufficient, and resumes the implementation of the agreement," the Russian ministry said in a statement, according to the Reuters report. Ukraine has been called the '"breadbasket of Europe" because of its high market share of exports of wheat, corn, and other grains.

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