# India's agri exports may stay flat in FY24 due to ban on wheat, rice, sugar | Economy & Policy News - Business Standard

> India's agricultural exports are expected to stay flat at about $53 billion in FY24 despite a $4.5-5 billion hit from export curbs on wheat, non-basmati rice and sugar. Officials said basmati may face 15-20% higher prices if Red Sea routes force longer voyages.

- Date: 2023-12-21 · published 2023-12-21T12:00:00.000Z
- Category: policy · region India · magnitude medium
- Page: https://feedsoft.ai/events/32644-india-s-agri-exports-may-stay-flat-in-fy24-due-to-ban-on-wheat-rice-sugar
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Rough Rice](https://feedsoft.ai/c/RICE.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Officials' expectation of a $4.5-5 billion hit confirms sustained export restrictions that tighten global wheat, rice and sugar supply, while longer basmati routes add freight cost.

## Read by commodity

- RICE: bullish ▲
- WHEAT: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-07-07 | [After wheat, India now curbs the export of wheat flour and related products \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/40462-after-wheat-india-now-curbs-the-export-of-wheat-flour-and-related-products.md) | -5.1% | -4.3% |
| WHEAT | 2022-03-30 | [FY23 wheat stock may be robust despite exports, free grain scheme extension \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/42251-fy23-wheat-stock-may-be-robust-despite-exports-free-grain-scheme-extension.md) | -7.8% | -3.0% |
| WHEAT | 2016-12-10 | [Scrapping wheat import duty may hit farmers hard \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/73452-scrapping-wheat-import-duty-may-hit-farmers-hard-economy-and-policy-news.md) | +1.1% | +2.0% |
| WHEAT | 2022-11-10 | [Soaring wheat prices in India likely to prompt price-cooling measures: Govt \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/38633-soaring-wheat-prices-in-india-likely-to-prompt-price-cooling-measures-govt.md) | +1.3% | -8.6% |
| WHEAT | 2022-05-26 | [Sugar exports: India's curbs on wheat and sugar exports spark concern that rice may be next - The Economic Times](https://feedsoft.ai/events/41367-sugar-exports-india-s-curbs-on-wheat-and-sugar-exports-spark-concern-that-rice.md) | -1.9% | -2.9% |
| RICE | 2023-08-28 | [Central govt's restrictions on rice exports puts wheat and sugar in focus \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/34529-central-govt-s-restrictions-on-rice-exports-puts-wheat-and-sugar-in-focus.md) | +6.2% | +1.1% |
| RICE | 2018-07-14 | [MSP hike in Kharif crops may dent India's farm exports in long term \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/63991-msp-hike-in-kharif-crops-may-dent-india-s-farm-exports-in-long-term-economy-and.md) | +1.0% | -10.7% |
| RICE | 2019-07-29 | [India's non-basmati rice export falls after govt withdraws tax incentive \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/58049-india-s-non-basmati-rice-export-falls-after-govt-withdraws-tax-incentive.md) | -4.0% | -10.0% |

## Sources

- business-standard.com: https://www.business-standard.com/economy/news/india-s-agri-exports-may-remain-flat-in-fy24-due-to-ban-on-wheat-rice-123122101163_1.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.