Traders in pact to sell 90,000 tonnes wheat to Sri Lanka

Indian traders have signed a deal to sell around 90,000 tn of wheat to Sri Lanka at $380 per tn, free on board. The foodgrain will be shipped from the Kandla port on Apr 5 and Apr 17. Currently, the average export price of Indian wheat is $340-$380 per tn, free on board, compared with $280-$310 per tn a month ago.

In the last two months, India has signed contracts to export wheat to several countries such as Tanzania, Turkey and Bangladesh. India is emerging as one of the main exporters of wheat, cashing in on the void created by Russia’s invasion of Ukraine. Russia and Ukraine earlier accounted for about 30% of global wheat exports.