Putin’s war may help boost India’s wheat & maize exports: Report – Times of India

NEW DELHI: The battle between Russia and Ukraine is disrupting provides of agricultural commodities and is prone to have a deep impression on India’s farm sector, mentioned Crisil Analysis in its report launched on Thursday.
Noting the state of affairs as a “combined bag” for India’s agri-trade, it mentioned whereas the battle creates a chance for wheat and maize exports, additionally it is set to have an opposed impression on the import invoice of edible oils attributable to larger costs.
“Each the Black Sea nations are main suppliers of key commodities comparable to wheat, sunflower oil and corn. On its half, India is an exporter of wheat and a significant importer of edible oils, together with sunflower oil. Thus, whereas the battle creates alternative for exports, additionally it is set to have an opposed impression on the import invoice attributable to larger costs,” mentioned the report.
Crisil’s evaluation comes at a time when a number of reviews flagged how the Russia-Ukraine battle may even adversely impression imports of fertilizers, making a state of affairs the place farmers must face larger enter price in the course of the Kharif (summer time crop) sowing season if it prolongs longer. At a excessive 14%, India’s share in world wheat manufacturing is identical because the mixed share of Russia and Ukraine. Nevertheless, owing to larger home consumption, the nation’s share in world wheat exports is a mere 3%.
One other commodity that’s prone to see the impression is maize, of which Ukraine is the third-largest exporter.
“As exports from Ukraine decline, Indian maize will have the ability to take benefit,” mentioned the report. It, nonetheless, mentioned, “India’s positive factors in wheat and maize might properly be squandered on edible oils, the place the nation is a significant importer.”


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