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The price of wheat is close to highs in the world. LMonday, May 16, wheat sold for 483 euros per tonne, which is a historic record. Since India ended its exports, the situation is critical.
A historic decision! LMonday, May 16, India, the world’s second largest wheat producer, decided to put an end to exports. A decision that stems from the poor harvest season in the country. A drought affected the whole country. Thus, thehe Indian government prefers to feed its people. “My wheat grains have not matured, I have lost 40% of my production”, testifies an Indian farmer.
Many geographical areas depend on Indian wheat production. The Middle East, the Maghreb or Southeast Asia are seeing their wheat prices explode and according to an expert, if India does not ship its production, its main customers could see wheat prices explode even more . However, the Indian authorities have promised to deliver the orders already placed.