India's Wheat Export Ban is working in favor of Bangladesh Wheat Prices

Bangladesh wheat prices have jumped by 48% over the last year. Domestic wholesale wheat prices stood at Wholesale USD0.39/kg on W4 May 2022 versus USD0.27/kg on W4 2021. As one of the world's largest importers, Bangladesh relies on supplies from overseas, including India, Ukraine, and Russia. India's ban on wheat exports from 13 May 2022 has aggravated the upward price trend caused by the Ukrainian-Russian geopolitical crisis.