Booming wheat exports from India to ease global shortage

Pratik Parija and Ruchi Bhatia
Bloomberg

In a world where people are worrying more than ever about food shortages and rising inflation, India's warehouses are brimming over with grain and the country's farmers are gearing up for yet another record harvest.

The country is the top global producer of wheat after China and has the potential to ship 12 million tons to the world market in the 2022-23 year, the most on record, according to the median of five estimates in a Bloomberg survey of traders, millers and analysts. That compares with shipments of 8.5 million tons in 2021-22, U.S. Department of Agriculture data show.