# First rice, now wheat: India rides on global grain trade bandwagon | India News - The Indian Express

> The USDA raised its forecast of Indian wheat exports for 2020-21 to 1.8 million tonnes, the highest in six years. The increase follows higher global prices, and Russia's 25-euro-per-tonne wheat export tax has pushed Bangladesh to consider Indian supply.

- Date: 2021-01-13 · published 2021-01-13T12:00:00.000Z
- Category: trade · region India · magnitude medium
- Page: https://feedsoft.ai/events/49098-first-rice-now-wheat-india-rides-on-global-grain-trade-bandwagon-india-news-the
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Russia's export tax and rising Chicago wheat prices are shifting import flows toward India, which supports world wheat prices. The impact is moderate because Indian wheat is still uncompetitive at current prices.

## Read by commodity

- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-05-19 | [India exports record 20 MT of rice, wheat in FY21 - Economy News \| The Financial Express](https://feedsoft.ai/events/47045-india-exports-record-20-mt-of-rice-wheat-in-fy21-economy-news-the-financial.md) | -2.8% | +2.2% |
| WHEAT | 2022-05-16 | [Wheat prices rocket on India export ban. London, Paris futures set record highs - Grain Price News](https://feedsoft.ai/events/41448-wheat-prices-rocket-on-india-export-ban-london-paris-futures-set-record-highs.md) | +4.0% | -0.3% |
| WHEAT | 2018-11-22 | [Tides May be Turning in the Global Wheat Trade](https://feedsoft.ai/events/62071-tides-may-be-turning-in-the-global-wheat-trade.md) | -0.9% | +3.4% |
| WHEAT | 2021-10-14 | [India could grab a big chunk in global exports of wheat and rice - India Xports 2.0](https://feedsoft.ai/events/44514-india-could-grab-a-big-chunk-in-global-exports-of-wheat-and-rice-india-xports-2.md) | +1.3% | +9.2% |
| WHEAT | 2018-03-22 | [No hike in Indian wheat tariff good news for Australia - Grain Central](https://feedsoft.ai/events/65967-no-hike-in-indian-wheat-tariff-good-news-for-australia-grain-central.md) | +0.1% | +4.9% |

## Sources

- indianexpress.com: https://indianexpress.com/article/india/first-rice-now-wheat-india-rides-on-global-grain-trade-bandwagon-7145485/

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