South Korea: India bans wheat export, government keeps an eye out for impact
Wheat
India
South Korea
Published May 16, 2022
Tridge summary
In relation to India, the world's third-largest wheat producer, has decided not to export its own wheat, the Korean government also announced on the 15th that it will monitor the situation and take countermeasures. The Ministry of Agriculture, Food and Rural Affairs explained that the short-term impact on domestic supply and demand is expected to be limited due to the suspension of India's wheat exports, given India's share of global wheat exports and the domestic wheat stock situation. However, he added that if India's wheat exports prolong, it could have an impact on the international wheat supply and price. Earlier, on the 13th, India announced that it would suspend wheat exports as international wheat prices rose and wheat production was expected to be sluggish this year due to unusually high temperatures in the country. In general, India consumed most of its wheat production within its own country, but in 2021-2022, its domestic crop was good and exports increased due to rising international wheat prices. Export target regions are mainly Southeast Asia, the Middle East and North Africa.
Original content
In relation to India, the world's third-largest wheat producer, has decided not to export its own wheat, the Korean government also announced on the 15th that it will monitor the situation and take countermeasures. The Ministry of Agriculture, Food and Rural Affairs explained that the short-term impact on domestic supply and demand is expected to be limited due to the suspension of India's wheat exports, given India's share of global wheat exports and the domestic wheat stock situation. However, he added that if India's wheat exports prolong, it could have an impact on the international wheat supply and price. Earlier, on the 13th, India announced that it would suspend wheat exports as international wheat prices rose and wheat production was expected to be sluggish this year due to unusually high temperatures in the country. In general, India consumed most of its wheat production within its own country, but in 2021-2022, its domestic crop was good and exports increased due ...
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