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India's commerce ministry says Egypt, the largest wheat importer, has listed India as an approved origin and aims to export 3 million tonnes to Egypt in 2022-23. India has set a 10 million tonne export target for 2022-23 and APEDA will send trade delegations to several countries.
Egypt imported 6.1 million tonnes in 2021, mostly from Russia and Ukraine.
Access to Egypt diverts demand from Black Sea origins to India, supporting Indian wheat exports and adding to tighter global supply.
pib.gov.inApr 15, 2022After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 102 past bullish trade events, Wheat (HRW) moved a median 0.0% over 5 sessions (49% higher; middle half -2.0% to +3.5%), and -1.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
