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India’s ban on export of wheat won’t have an effect on 3 lakh metric tonnes of wheat already contracted for import by Bangladesh.
Speaking to UNB, Secretary to the Meals Ministry Dr Mosammat Nazmunara Khanum stated a 3rd of the quantity, 1 lakh MT, is already onboard a ship for Bangladesh.
Within the brief time period, the Indian embargo would haven’t any impact on meals safety in Bangladesh, as sufficient wheat to satisfy home demand has already been imported or is within the pipeline.
For the time being, the nation’s inventory of wheat is sufficient to final by August, and there could be no must import any wheat earlier than that, the meals secretary stated.
There would nonetheless be scope to import wheat from India at authorities to authorities (G2G) stage, as talked about within the Indian wheat export ban notification, Nazmanara additionally identified.
In any case, Bangladesh has additionally signed a take care of Bulgaria to import wheat and is different exporters together with Australia, Canada, Ukraine and Russia.
In response to the Meals Ministry, Bangladesh’s annual demand for wheat is round 7.5 million MT, of which simply 1 million MT is produced domestically on common in a yr.
The remaining demand is met by importing wheat from India, Russia, Ukraine, Canada, Argentina and USA, the overwhelming majority by the personal sector.
The federal government imports simply half 1,000,000 tonnes, with the personal sector accounting for the opposite 6 million MT, the secretary stated.
Some 60 p.c of the imported quantity got here from India in 2020-21 resulting from much less costlier and simpler transport.
Ukraine, Russia, Canada, Argentina, and the US have been the highest 5 nations exporting wheat to Bangladesh within the FY 2019-20.
India emerged as a significant wheat exporter to Bangladesh in FY 2020-21, downgrading Ukraine to third place. Canada’s wheat export quantity to Bangladesh additionally noticed an increase from about 1 million tons in 2019-20 to over 1.4 million tons within the final fiscal.
India introduced its ban on wheat exports to worldwide markets on Saturday, in an announcement by the Directorate Common of International Commerce (DGFT).
The assertion stated that invoices for commerce agreements already signed will be exported; nonetheless, from Saturday, no new worldwide order might be taken relating to wheat export.
As well as, if a rustic particularly requests the Authorities of India to ship wheat, the DGFT notification states that the export ban will be waived.
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