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New Delhi [India], April 25 (ANI): Constrained supplies of milk and wheat, coupled with a volatile international crude oil market with OPEC+ countries deciding to cut crude oil production from May 2023 are factors that may, going forward, influence the inflation outlook in India, Ministry of Finance's Monthly Economic Review report put out on Tuesday noted. Milk inflation in India has remained elevated for several months due to a growing supply-demand mismatch. Milk production has been impacted by a Lumpy Skin Disease (LSD) infecting millions of cattle in late 2022, its prices also rose because of high fodder and transportation costs. To meet the growing demand and considering the fact that the supply of milk in the ensuing summer season being a lean season may be less, the Ministry of Fisheries, Animal Husbandry and Dairying earlier this month said there were demands from several dairy cooperatives for the import of conserved dairy commodities - milk fat and powder. The ministry also added since the process of import takes time, the necessary back-end processes for need-based imports are being put in place to timely manage the situation in case of any eventuality. For wheat, there were reports from various key growing states that unseasonal rains have flattened standing crops in some regions. Wheat, a rabi crop was in an advanced maturing stage and was expected to hit mandis in a fortnight or so. "Although the second advance estimate has projected a record foodgrain production, the crop damage caused by unseasonal rains and hailstorms in some parts of the country since mid-March may constrain wheat production, besides perishable items such as fruits and vegetables," the Ministry of Finance's monthly report said. A survey conducted by Agri Watch, an Indian market information and analysis firm specialising in agricultural commodities, has estimated India's wheat production of 102.89 million tonnes in the 2022-23 crop season, reduced from 104.24 million tons (estimated in March 2023) due to unseasonal rains and hail storm faced by key wheat producing states towards the end of March. The estimates were based on the survey conducted in two phases across nine states- Bihar, Gujarat, Haryana, Madhya Pradesh, Maharashtra, Rajasthan, Punjab, Uttar Pradesh, and West Bengal. Notably, last year, too, the wheat crop was affected, not due to rains but heatwaves. That came on top of the conflict in Ukraine. Global <keyword id="3854307" type="General" weightage="20" keywordseo="wheat-prices" source="Orion">wheat prices</keyword> have shown substantial volatility in the past year as both the countries -- Ukraine and Russia -- are two major suppliers of wheat. Multiple rounds of heat waves in several wheat-growing regions in India before the rabi harvest last year affected crops. Wheat pods in the mature stage typically shrink if overexposed to heat. To manage the overall food security of the country as well as meet the needs of the neighbouring and other vulnerable countries amid the double whammy, India then amended the export policy of wheat by putting its export under the "prohibited" category, which is still in force. RBI has been engaged in necessary policy actions to counter inflationary pressures and support growth. The Reserve Bank of India, in its first monetary policy review meeting in 2023-24, decided to keep the key benchmark interest rate -- the repo rate -- unchanged at 6.5 per cent, to assess the effects of the policy rate tightening done so far on various macroeconomic parameters. Barring the recent pause, RBI has so far raised the repo rate, the rate at which it lends to banks, by 250 basis points cumulatively since May 2022 in the fight against inflation. In the US, the interest rate is currently at 4.75 to 5.00 per cent, which was near zero during the initial days of the pandemic. Raising interest rates is a monetary policy instrument that typically helps suppress demand in the economy, thereby helping the inflation rate decline and vice versa. The RBI sees retail inflation declining to 5.2 per cent in the full year of 2023-24, lower than the 5.5 per cent attained in 2021-22 -- which was mostly free of the impact of the Russia-Ukraine conflict. In India, headline consumer price index-based (CPI) inflation (or retail inflation) has gradually declined from its peak of 7.8 per cent in April 2022 to 5.7 per cent in March 2023. (ANI)

Constrained milk, wheat supplies amid volatile crude market raise inflation concern in India

<ul><li>Food inflation was the major driver of June CPI which hit a three-month high.</li><li>Tomato price inflation was at 64%, onions at 8.1%, and potato at 10.5% on a sequential basis.</li><li>Retail prices of pulses reported double-digit growth for the third consecutive month.</li><li>On a sequential basis, wheat and rice inflation also picked pace in June. </li></ul>India’s <keyword id="513422" type="General" weightage="20" keywordseo="retail-inflation" source="Orion">retail inflation</keyword> is at a three-month high in June at 4.8%, but it may not have reached its peak yet. Many climate related factors have been playing havoc with food inflation, and with most of North India under floods and this will only add to the pinch on the pocket, economists have warned. “Nine states had inflation above the average while six had above 5% — UP, Uttarakhand, Rajasthan, Kerala, Bihar and Haryana. The recent floods and landslides in the North will tend to push up inflation further in these states on the food side — especially vegetables and fruits which can add another 0.2% to headline inflation,” said Madan Sabnavis, chief economist at Bank of Baroda. Food inflation is a heavyweight in consumer price inflation (CPI), and drove it up in June, even as core inflation cooled as compared to the last month. “Food inflation was the major driver for higher headline inflation print; up by 218 basis points month-on-month versus 67 basis points in the last month due to a 12% hike in vegetables prices,” said a report by Phillip Capital. Price shock: Grains join tomatoes Vegetable prices however are on top of everyone’s minds, and it could get worse as prices of tomatoes refuse to inch down. In June, its prices went up by 64%. But other key vegetables like onion were high too at 8.1%, and potato at 10.5% – on a sequential basis. A report by SBI Ecowrap says that the past 10 years data shows that tomato price increase alone did not influence the overall CPI inflation much — except when it is accompanied by substantial increase in price of potato and onion. “We believe if tomato price increase without any substantial change in potato and onion then average inflation in Q2 FY24 will come near 5.8% yoy but if the TOP (tomato, onion, potato) inflation increases, then CPI might come around 6% yoy in Q2 FY24. Accordingly, average CPI for FY24 will vary between 5.2-5.4%,” says SBI Ecowrap. Grains are not too far behind either. Cereal and pulses inflation remained elevated in June at 12.7% y-o-y and 10.5% y-o-y, respectively. Retail prices of pulses, especially that of tur dal, have risen 24% y-o-y in June, reporting double-digit growth for the third consecutive month. Moreover, the<a href="https://www.businessinsider.in/india/news/india-sows-more-millets-and-less-rice-this-kharif-season/articleshow/101642365.cms"> sowing in rice and pulses is lower this Kharif season</a> due to delayed monsoons, and that doesn’t bode well for their prices which too are seeing upward pressure. “On a sequential basis, wheat and rice inflation also picked pace in June. Looking ahead, the sale of wheat and rice from the government’s buffer stock via Open Market Sale Scheme (OMSS) auctions could help cool retail prices of rice, wheat and atta. However, with regards to rice prices, deficient monsoons in West Bengal, a key rice-producing state, could impact sowing, putting upward pressure on prices,” said a report by CareEdge. Milk inflation moderated in June to 8.6% as compared to 8.9%. But it continues to remain sticky above 8%, reeling from the impact of a continued demand-supply mismatch and high fodder costs. “Milk prices could remain higher in the coming months, if unabating cereal inflation keeps cattle feed expensive,” CareEdge says. WPI is comforting, say experts RBI insisted in the last two monetary policy committee meeting updates that its decision to hold key interest rates is a pause not a pivot. Most experts had been hoping that it would go for rate cuts in the second half of the year, but the inflation picture is <a href="https://www.businessinsider.in/finance/news/with-inflation-cooling-rbi-may-slash-interest-rates-by-50-bps-this-financial-year/articleshow/100531780.cms">putting cold water on their hopes</a>. “While food prices will create inflationary pressures in the upcoming months due to uneven distribution of monsoon and lower kharif sowing, RBI stance would not be solely contingent on seasonal food inflation,” said Phillip Capital. Even at 4.8%, inflation is within the tolerance band of RBI, which is 4-6%. “The RBI will keep a keen eye here and it is almost given that nothing will change in the policy next month. More caution will be expressed on the inflation front,” said Sabnavis. CareEdge however says that wholesale price inflation (WPI) has been contracting and that is offering some comfort. India’s WPI has been in a deflationary zone for the second month in a row in May, as prices contracted by 3.48%. “Deflation in WPI will have a lagged impact on CPI inflation going forward. Having said that, RBI would remain cautious and adopt a wait and watch mode. We reaffirm our view that RBI would maintain an extended pause in 2023,” said CareEdge.

Inflation to inch higher still? Incessant rains will add to woes, warn economists

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

The hot temperature if persists in March may not only reduce the wheat crop yield but also heat up the commodity prices, said <keyword id="6359483" type="General" weightage="100" keywordseo="crisil" source="Orion">CRISIL</keyword>. The rabi wheat crop yield will be impacted if the temperature is high in March. The crop yield will be on a par - or marginally lesser - than last year's low, said CRISIL in a report. According to the report, in <keyword id="6357713" type="General" weightage="50" keywordseo="uttar-pradesh" source="Orion">Uttar Pradesh</keyword>, accounting for about 30 per cent of <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s wheat production, the eastern part is expected to have relatively good yields on-year because of timely sowing after harvest of <keyword id="50318" type="General" weightage="50" keywordseo="kharif" source="Orion">Kharif</keyword> paddy. On the other hand, western Uttar Pradesh could see a marginal decline due to late sowing - majorly in the sugarcane belt - if high temperatures persist in March. In Punjab and Haryana (together accounting for about 25 per cent of India's wheat production), late-sown wheat is in the flowering stage, while the early sown lot is in the milking stage. High temperatures are detrimental to grain formation in both these stages, CRISIL said. Similarly, in <keyword id="6355554" type="General" weightage="50" keywordseo="madhya-pradesh" source="Orion">Madhya Pradesh</keyword> (about 20 per cent of India's wheat production) late-sown wheat is at the milking stage. According to CRISIL, Bihar (about 5 per cent of India's wheat production) saw early sowing and the crop there is at the grain formation/maturation stage. Therefore, it could be impacted relatively less. Though such abiotic factors cannot be managed very effectively, farmers in Punjab, Haryana and western Uttar Pradesh are said to have initiated spraying of crop nutrients such as bio-stimulants and specialty fertilisers, which should help them cope with the heat wave to some extent. "While wheat prices have been on a downward trend in the past 20 days, if these high temperatures persist for the next 20 days, there could be a turnaround in prices," CRISIL said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/indian-workers-with-digital-skills-contributing-508-billion-to-countrys-gdp/articleshow/98153304.cms">Indian workers with digital skills contributing $508 billion to country's GDP</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sell-off-by-fiis-does-not-impact-markets-retail-participation-is-more-important-says-sebi-executive-director/articleshow/98153452.cms">Sell off by FIIs does not impact markets; retail participation is more important, says SEBI executive director</a>

Hot temperature to heat up prices, reduce wheat yield: CRISIL

<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

The government on Tuesday hiked the minimum support price for wheat by Rs 110 to Rs 2,125 per quintal and mustard by Rs 400 to Rs 5,450 per quintal for the current crop year with an aim to boost production and income of the farmers. The decision to increase the MSPs (minimum support prices) was taken at a meeting of the Cabinet Committee on Economic Affairs (<keyword id="56977" type="General" weightage="80" keywordseo="ccea" source="Orion">CCEA</keyword>) chaired by Prime Minister <keyword id="6354477" type="General" weightage="80" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>. <keyword id="133827" type="General" weightage="80" keywordseo="msp" source="Orion">MSP</keyword> is the rate at which the government buys grain from farmers. Currently, the government fixes MSPs for 23 crops grown in both <keyword id="50318" type="General" weightage="80" keywordseo="kharif" source="Orion">Kharif</keyword> and rabi seasons. Sowing of rabi (winter) crops begins in October, immediately after the harvest of kharif (summer) crops. Wheat and mustard are major rabi crops. According to an official release, the CCEA has approved an increase in MSPs for six rabi crops for the 2022-23 crop year (July-June) and the 2023-24 marketing season. <keyword id="625304" type="General" weightage="80" keywordseo="wheat-msp" source="Orion">Wheat MSP</keyword> has been increased by Rs 110 to Rs 2,125 per quintal for this crop year from Rs 2,015 per quintal in the 2021-22 crop year. The cost of production of wheat is estimated at Rs 1,065 per quintal, the release said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-rises-22-paise-to-82-08/usd-tracking-positive-domestic-equities/articleshow/94935889.cms">Rupee rises 22 paise to 82.08/USD tracking positive domestic equities</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/two-in-three-ceos-in-india-expect-a-recession-in-12-months-says-survey/articleshow/94934951.cms">Two in three CEOs in India expect a recession in 12 months says survey</a>

Government hikes the minimum support price of wheat and mustard

<ul class="summary-list"><li><keyword id="11909001" type="UNKNOWN" weightage="60" keywordseo="wheat" source="Orion">Wheat</keyword> prices dropped almost 3% on Friday following media reports that <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> and <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword> struck a deal on grain shipments.</li><li>The price, which hit record highs after Russia's invasion in February, is now back to pre-war levels.</li></ul>Wheat prices tumbled on Friday after Ukraine and Russia reached a deal to allow crucial grain shipments to safely leave Black Sea ports, according to media reports, potentially alleviating a brewing global <keyword id="13544066" type="UNKNOWN" weightage="60" keywordseo="food-crisis" source="Orion">food crisis</keyword>. US wheat futures dropped almost 3% to a five-month low of $786 per bushel, meaning the price has unwound almost all of its "war gains." Russia invaded Ukraine in late February, triggering a 70% surge in the price of wheat to a record high of over $1,300 in the two weeks that followed. The two countries together account for a quarter of the world's wheat exports. The <a href="https://www.bbc.co.uk/news/world-europe-62254597">BBC</a> said <keyword id="11998211" type="UNKNOWN" weightage="60" keywordseo="turkey" source="Orion">Turkey</keyword> successfully brokered a deal between the two sides.Drought across key growing regions like the United States, India, and Canada earlier in the year threatened to further squeeze availability of wheat and other <keyword id="12168891" type="UNKNOWN" weightage="60" keywordseo="grains" source="Orion">grains</keyword>, putting millions around the world at grave risk of hunger. Some countries, such as India, instituted export bans to stave off unrest at home.Food price inflation is hurting the pockets of consumers everywhere, but it is felt most acutely across the developing world, where the combination of soaring inflation and a stronger US dollar is pushing a number of countries, such as Sri Lanka, to the brink of bankruptcy. Some 20 million tonnes of grain has been held up in the Ukrainian port of Odessa, according to the BBC.Turkey has been mediating between the two sides, along with the United Nations, for the past two months to try to reach a deal to end a Russian blockade of Ukrainian ports. Moscow has said there is no blockade and any hold-up is the result of Western sanctions and mines laid at sea by Ukraine."If successful, it would further reduce the risk of a food crisis over the coming months. Ukraine, a major exporter of high-quality wheat, corn, and sunflower oil has seen its main export artery through the Black Sea blocked since March," Saxo Bank strategist Ole Hansen said of the deal in a recent note.Since the invasion, the wheat price has gradually subsided, having fallen some 42% since then. But US wheat futures are still 15% above where they were last year and, in Europe, the situation is more acute. Benchmark <a href="https://markets.businessinsider.com/commodities/wheat-price">French milling wheat futures</a> are 65% higher than this time last year, and UK feed wheat is 50% pricier.Russia and Ukraine have agreed to monitor ships to and from ports including Odessa at two separate control centers — one located in Istanbul and the other on the Black Sea, the <a href="https://www.ft.com/content/3dc86119-e22e-4254-b8ef-44f33d5e71cf">FT</a> reported on Thursday.Turkey would inspect ships to ensure no weapons were smuggled, and Russia would guarantee ships safe passage, under the terms of the deal.The BBC quoted a US State Department spokesman as saying the government welcomed the deal but would focus on ensuring Russia implemented it."We should never have been in this position in the first place. This was a deliberate decision on the part of the Russian Federation to weaponize food," said the department's spokesman, Ned Price, according to the BBC.Ukraine is a major exporter of other important foodstuffs such as barley, corn, and sunflower oil, as well as industrial <keyword id="11895969" type="UNKNOWN" weightage="60" keywordseo="commodities" source="Orion">commodities</keyword> like fertilizer - shortages of which have only made the pressure on farming worse - iron, coal, steel and refined petroleum products.Read more: <a href="https://www.businessinsider.com/stock-market-crash-expert-warns-recession-coming-60-percent-drop-2022-7">'A lot of people are just not understanding what's going on': A 30-year market vet lays out 7 reasons why a recession is imminent — and says stocks will end the sell-off down 60%</a>

Wheat prices drop to pre-war levels after Ukraine and Russia strike deal to unblock shipments

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>

You Searched For "wheat prices in india" and got 8 results

Constrained milk, wheat supplies amid volatile crude market raise inflation concern in India

ANI

Inflation to inch higher still? Incessant rains will add to woes, warn economists

Katya Naidu

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

PTI

Hot temperature to heat up prices, reduce wheat yield: CRISIL

IANS

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

Zahra Tayeb

Government hikes the minimum support price of wheat and mustard

PTI

Wheat prices drop to pre-war levels after Ukraine and Russia strike deal to unblock shipments

Amanda Cooper

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

IANS

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