4 min read.Updated: 20 Apr 2022, 01:01 AM ISTVivek Kaul
Central stocks haven’t been released while exports were upped to fill a Ukraine war-created vacuum
One side effect of Russia attacking Ukraine has been a rise in global wheat prices. Wheat importers are struggling. I had written about this possibility in this space on 23 March (‘Like oil, soaring prices of wheat could have broad repercussions’). Towards the end, I had said that India was unlikely to be impacted primarily because the Food Corp of India (FCI) at the start of March had enough wheat stocks, which were “significantly more than the required strategic and operational stock". Also, we produce more wheat than we consume.