Located in Asia, India is the 2nd largest wheat producer as well as consumer in the world. Owing to high domestic demand and rising domestic prices, the 2nd highest producer of the commodity restricted wheat exports in 2022.
A memorandum of understanding (MoU) was signed by the Bharat Subcontinent Agri Foundation (BSAF) and the Dubai Multi Commodities Centre (DMCC) to advance the South Asian and UAE global agricultural commodities sector. According to a press release, the MoU calls for DMCC and FSAF to collaborate on food- and agri-tech projects and improve knowledge transfer through conferences and exhibitions.
India is the largest sugar-producing nation in the world but the country lies behind Brazil in terms of sugar exports. Since the production of sugar in India begins in October, October to September is regarded as the sugar season.
Located in the Southern part of Asia, Bangladesh has been the third-largest Rice producing country in the world for the past four years without fail. Last year alone, the country’s rice production stood at approximately 38.4 million tonnes. However, despite the increased production, there is no indication of relief to domestic rice buyers. The harvesting of Aman paddy has already been completed. Besides that, Boro season has begun and yet the price of rice in Bangladesh is at a record high. According to the previous market trends, usually, the price of rice keeps falling during the harvesting season. However, it has been different this time around.
Located in Asia, India is the largest sugar producer in the world and the Asian nation ranks second behind Brazil in terms of sugar exports. The Government of India (GOI) has granted the sugar mills of the country permission to export 6.1 million tonnes of sugar, by the end of May 2023. As per sources India has already signed contracts for exports of 5.6 million tonnes of the sweetener.
Located in Asia, India is the largest sugarcane producer in the world and it ranks second behind Brazil, when it comes to sugarcane exports.
The major countries which rely on India for their sugar requirements are Indonesia, Malaysia, Bangladesh, Sudan, United Arab Emirates, and Somalia. Last year, the Indian sugar industry earned a huge profit and recorded more than 5000 lakh tonne sugarcane production.
Located in Asia, India is the largest sugar producer in the world and the country has produced record volumes of sugarcane in the previous year. Currently, India occupies the top spot both in terms of sugar production as well as consumption in the world. Owing to this, the Central Government of India encourages sugar mills to export sugar to gain profit and to clear the cane dues of farmers, after ensuring adequate supplies for domestic needs. According to the press release, the Ministry of food and public distribution stated that India has produced record sugarcane i.e., over 5000 lakh tonne amid 2021-22 season which brightens the prospect for sugar exports.
India commands a mammoth 40% share of the global rice trade and the Asian nation is the 2nd largest producer and consumer of wheat in the world. As per government officials, the wheat and broken rice export restrictions are likely to continue and the free food grain scheme would get an additional annual subsidy of around Rs 14,000 crore, which would be less than 0.1 percent of the GDP.
India, the largest soy exporter in the world, sends the majority of its soybean abroad, primarily to the United States, Sri Lanka, and South Korea. As per 4 industry officials, India’s soymeal exports could more than double in the 2022/23 marketing year, as drought hits the top exporter, Argentina, thereby lifting global prices and prompting buyers to turn to the south Asian country which is offering cheaper rates for the commodity.
India is the second-largest rice-producing country in the world. Rice is the major food crop that satisfies global hunger and the Asian nation holds the top spot when it comes to rice exports. Indian rice, especially long-grain fragrant basmati rice, has a great demand worldwide and riding on the back of high global demand, India commands a mammoth 40% share in the rice trade. Considering only the case of basmati rice, the exports of the long grain variety from India increased by 26% in the financial year 2022-23.
