India rides on global grain trade bandwagon

After rice, India is set to turn a major exporter of wheat as well - thanks to surging international prices from Chinese stockpiling and ultra-low interest rate money increasingly finding its way into agri-commodity markets, local media reported.

The US Department of Agriculture (USDA) has upped its forecast of Indian wheat exports for 2020-21 (July-June) to 1.8 million metric tonnes (MT), as against its earlier estimate of 1.0 million MT. That would be the highest ever in the last six years.