The ongoing tussle between Russia & Ukraine doesn't seem to be cooling down and the impacts of the same are being experienced globally. The increasing crude oil prices, environmental impacts such as air, ground and water pollution are the talking points currently. The food supply is also disrupted globally as both Russia and Ukraine are the world’s top wheat exporters.
The reports suggest that Russia and Ukraine together have a 25% share in the global wheat market and the Indian wheat exporters are all set to meet the current global demand. The other foodgrains such as maize, millet and processed food will be sent globally to fill the gaps in stocks.
According to an analysis by the Agricultural and Processed Food Products Export Development Authority (APEDA), the ban on Russian flights to Europe is also creating a shortage of processed foods such as nuts, fruit juices, confectionery, pulse and cereal and this has created an opportunity for the Indian exporters to increase their gains.