According to trade sources who spoke to Reuters, Indian traders have started exporting wheat for the first time in four years due to a big harvest and an increase in global pricing and freight costs that made shipments of the staple competitive for customers in Asia and the Middle East.
In preparation for shipping to the United Arab Emirates, consumer goods major ITC has begun loading 22,000 metric tonnes of wheat at the western port of Kandla.
After a 2022 prohibition, India has permitted wheat exports this year in anticipation of a large yield.
After intense heat shrivelled the crop and reduced inventories in 2023 and 2024, it prolonged the ban. This resulted in record local prices and fuelled rumours that it could have to rely on imports for the first time since 2017.