Bangladesh Returns to Indian Wheat Supplies Amid Global Supply Disruptions
After India lifted its wheat export restrictions in August, Bangladeshi buyers have placed orders for over 200,000 tonnes of Indian wheat. This marks the first significant purchase from India since May 2022, when restrictions were imposed due to concerns over domestic availability and rising prices.
India had restricted wheat exports, but later permitted limited exports in February and April this year, approving 2.5 million tonnes each time. The Directorate General of Foreign Trade moved wheat exports to the 'free' category on August 24.
The purchases come amid supply disruptions from the Black Sea region, which have pushed up global grain prices. Bangladesh imports over 7 million tonnes of wheat annually and had sourced nearly 70% of its requirement from India before export restrictions were imposed.
Most of the recently booked Indian wheat shipments are expected to reach Bangladesh through rail routes. Sources cited by Bloomberg said delivered prices are likely to remain between $305 and $326 per tonne.