Wheat exports remain limited to Bangladesh despite deregulation

New Delhi: Although the central government has completely deregulated wheat exports—and global market prices are high and surging due to the Russia-Ukraine war—Indian exporters are struggling to secure significant export deals for this vital food grain. Currently, importers from Bangladesh are the primary buyers of Indian wheat. While Sri Lanka had previously entered into an import contract, it is no longer showing much interest.

Trade analysts report that export contracts or shipments totaling approximately 300,000 to 400,000 tonnes were finalized by September 2026, with Bangladesh accounting for the bulk of these purchases. Since the offer price for Indian wheat remains relatively high, importing it is not economically attractive or profitable for distant nations; only neighboring countries in South Asia and Southeast Asia are likely to make modest purchases.

Overall, wheat exports from India for the 2026-27 period are projected to reach 700,000 to 800,000 tonnes. However, if the intense conflict between Russia and Ukraine persists and triggers a sharp spike in global wheat prices, the likelihood of increased exports from India will rise.

Bangladesh typically sources large quantities of wheat from Russia, but shipments from that region are currently facing major disruptions, compelling the country to turn to India for imports. Meanwhile, export offer prices for wheat from Australia, Canada, and the US are rising. A trend of strengthening benchmark wheat futures prices is also evident across grain exchanges in Chicago, Paris, Winnipeg, Sydney, and Buenos Aires.