India's heatwave is adding to the world’s food security headache, fuelling doubts about whether New Delhi will maintain its newfound role exporting wheat to help fill global grain stores depleted by the war in Ukraine, says ugalani
India is one of the world's biggest wheat producers, but typically sells very little abroad. That changed as tensions mounted between Ukraine and Russia, which account for 28% of global exports. Selling some of India’s surplus supplies was widely seen as a neat solution to easing a global grain shortage; It also helped mute criticism in Washington about New Delhi ramping up cheap oil purchases from Moscow. As a result, India’s wheat exports grew almost six-fold year-on-year in April to 1.
That was welcome news, not least because worsening water scarcity in large parts of Brazil, the United States and Europe has sapped supplies there, leaving India as the only major supplier of wheat at present. But the country’s ability and willingness to step up is suddenly less certain with the country sizzling. Falling yields of the crop and rising exports have sent the monthly retail average price of wheat flour to a 12-year high, with overall food inflation at 7.7% in March.
- Northwest and central India recorded average maximum temperatures of 35.9 and 37.78 degrees Celsius respectively in April. Temperatures for March were also at or near record highs. - India's retail inflation rate may have surged to an 18-month high of 7.5% in April, largely driven by rising fuel and food prices and staying well above the Reserve Bank of India's upper tolerance limit for a fourth consecutive month, a Reuters poll published on May 10
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