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Why the UAE has ‘suspended’ re-export of Indian wheat-milling & More news


 

“India doesn’t want its wheat exported to Dubai or Abu Dhabi to go out to other countries, whether as grain or flour. It would want that wheat to be consumed locally, including the migrant Indian workers in UAE,” commerce sources informed The Indian Express.

This will, in flip, permit India to supply an exception to its wheat export ban and ship out some portions to the Gulf federation. India, on May 14, banned export of all wheat, besides in opposition to excellent contracts backed by already-issued letters of credit score and to international locations on case-to-case meals safety concerns.

India exported 4.71 lakh tonnes (lt) of wheat valued at $136.53 million to the UAE in 2021-22. That constituted about 6.5 per cent of its whole 72.35 lt shipments of the cereal value $2,120.27 million final fiscal.

While the portions exported is probably not that large for India, they aren’t small for UAE. The US Department of Agriculture has estimated UAE’s annual wheat consumption, which is completely imported, at 15 lt. The wheat-milling capability is increased, at 16.7 lt, which is pushed each by native consumption and re-export of flour bought to Saudi Arabia, Bahrain, Jordan, Ethiopia, Taiwan and Philippines. Such exports quantity to about 1 lt yearly.

More than 50 per cent of UAE’s wheat imports are from Russia, adopted by Canada, Ukraine and Australia. From 2020-21, India additionally emerged as a key provider, exporting 1.88 lt to the Gulf federation. Exports rose additional in 2021-22, earlier than the export ban determination that got here on high of the Russia-Ukraine conflict, which has disrupted shipments from the Black Sea ports.

The commerce sources identified that the international wheat provide scenario ought to ease considerably, with the harvesting and market arrivals of Russian and Ukrainian wheat from July. The USDA has projected Ukraine’s wheat exports to almost halve to 10 million tonnes (mt) in 2022-23, from 19 mt in 2021-22. However, it expects a considerable leap in Russia’s exports, from 33 mt in 2021-22 to a file 40 mt in the new advertising and marketing yr.

 

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