India’s Record Wheat Harvest Opens $1.5 Billion Export Opportunity: ASSOCHAM

India’s record wheat harvest, comfortable stocks, and recent liberalisation of export rules are expected to unlock over $1.5 billion in export opportunities, a report said on Wednesday. The report from industry chamber ASSOCHAM said the government has shifted specified wheat varieties, wheat flour and related products from “Prohibited” to “Free.” The shift will expand market access for Indian producers and processors while supporting export earnings in products such as wheat, durum wheat, atta, maida, semolina/rava and related items.

It would support export earnings, expand global market opportunities for Indian producers and processors, and strengthen India’s role in the international wheat trade. The report said India has strong demand prospects in Egypt, Indonesia, Bangladesh, Algeria and the Philippines, aided by competitive pricing, geographic proximity and comfortable supply position. India's geographical location offers shorter shipping distances and lower freight costs to major importing countries in South Asia, Southeast Asia and the Middle East.

These advantages improve the overall competitiveness of Indian wheat compared with supplies from many other exporting nations. The global wheat market is changing due to weather disruptions, geopolitical tensions, higher freight costs and fluctuations in production and prices. The Russia-Ukraine conflict has affected the traditional supply routes while extreme weather is creating uncertainty for major producers. These developments are also pushing large wheat-importing countries to look for more diversified and reliable sources.

The USDA has projected that global wheat production will decline from a record 844 MMT in 2025-26 to around 819 MMT in 2026-27 while demand is expected to remain strong. The USDA said the primary contributors to this decline in wheat production will be major exporting nations including the United States, the European Union, Argentina and Australia. India produced a record 121 MMT of wheat in 2025-26 against domestic consumption of around 111 MMT. The wheat stock in the Central Pool stood at 51.3 MMT against the prescribed buffer norm of 27.5 MMT for 1 July as on May 28, 2026. The report also mentioned India’s strong price advantage, with wheat MSP around $268 per tonne compared with an international wheat price of about $303 per tonne in May 2026.

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