After harvests record consecutive over the past five years, India’s wheat production looks set to decline questyear, after a sharp and sudden rise in temperatures in mid-March reduced the harvest in the world’s second largest producer of wheat.
The drop in production could reduce India’s grain exports and this will cause an additive hike in global grain prices that have risen since the Russian invasion of Ukraine on February 24.
India exported a record of 7.85 million tons of wheat in the fiscal year ending at the end of March, in growth of 275% compared to the previous year.
Merchants and government officials, waiting for another harvest recordthey expected the opportunity to export 12 million tons in the current fiscal year 2022/2023.
In mid-February, nearly a month before the last heatwave, the government said India was on track to produce its largest crop to date of 111.32 million tons of wheat, compared to the crop. of the previous year of 109.59 million tons.
The government has not yet revised its production forecasts, but an official note seen by Reuters says production could drop to 105 million tons. quest’year.
According to data collected by the Indian State Meteorological Authority, India recorded the hottest month in March in 122 years in 2022. With the maximum temperature in increase in the whole country at 33.1 degrees Celsius, 1.86 degrees in more than usual.
Read More About: Business News