Maximize agricultural exports

13 MAR,2022 | MEDC

 

An economic fallout of the ongoing Ukraine crisis is the spike in the international prices of agricultural produce. India needs to optimize it by strategically stepping up the export of such produce. Many experts now view India as the emerging food bowl in the region, as it can meet the immediate need of grain-importing countries in its neighbourhood, including North Africa. For example, Russia and Ukraine together account for around 30% of the global wheat supplies. Part of the gap created by the current disturbances can be filled by India, which currently holds a huge wheat inventory of around 26 million tons. This is well in excess of the needed buffer stock (operational stock plus strategic reserves) of 7.46 million tons on the eve of the fresh wheat harvest. The Ukrainian crisis has opened up some unique export opportunities for India, and policymakers need to craft well-designed strategies to maximize them.

*Picture Credit: Google

 

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