Despite Western sanctions, Russia is facing a significant demand for wheat, SIA reports with reference to foreign media.
India is considering resuming wheat imports from Russia, a move that would be a major departure from its traditional trade routes.
According to foreign sources, India is exploring the possibility of resuming wheat imports from Russia after a six-year hiatus. This move comes as India is seeking to boost its wheat supplies and reduce its dependence on international markets.
The International Grains Council has recently projected that Russia will increase its wheat exports to 53.1 million tons by the end of the current agricultural season, up from 1 million tons previously. This would make Russia the largest exporter of wheat in the world, accounting for 25.8% of global trade.
However, Russia's Agriculture Minister Oksana Lut has announced that the country is planning to implement a federal emergency regime due to abnormal weather conditions in May. The regime aims to ensure that crops are planted on an area of 900 million hectares.
The move is seen as a major shift in Russia's agricultural policy and could have significant implications for the global wheat market. It also underscores the importance of Russia as a key player in global agriculture and trade.
The developments come as India is grappling with a shortage of wheat supplies and rising prices. The country's food ministry has announced that it will take measures to address the shortage and ensure that the country's wheat needs are met.
In the meantime, Russia remains committed to increasing its wheat exports and cementing its position as a major player in the global grain market.
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