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National & World Ag News Headlines |
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India Flour Mills Cut Production Amid Wheat Shortage
USAgNet - 11/22/2022
Flour mills in eight northern districts of Rangpur division are struggling to continue production as wheat has become scarce in international markets amid the ongoing war between Russia and Ukraine, two major exporters of the cereal grain.
Bangladesh largely depends on imports to satisfy its domestic demand for wheat as the country lacks sufficient production with farmers opting for more lucrative crops while the local climate prevents year-round cultivation.
Earlier this month, the US Department of Agriculture forecasted that overall wheat consumption in Bangladesh may drop 10 per cent to 69 lakh tonnes in marketing year 2022-23 due to higher prices and lower supply of wheat and wheat flour.
The price of wheat flour, which was Tk 34 per kilogramme (kg) in Dhaka in January this year, began to rise after Russia's invasion of Ukraine began in February.
Later in May, India banned shipments of wheat to contain its domestic prices, which fuelled prices in Bangladesh as the neighbouring country has become a major source for the grain in recent years.
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