Russia-Ukraine War leads to demand for wheat from India will soar from foodgrain exporters like ITC
Indian government is looking to tap diplomatic missions to export wheat and also handhold exporters. In Q3FY22, ITC saw a sharp growth in agri-business revenue, up 100 per cent YoY, driven by wheat, rice, spices, and leaf tobacco. In FY22, ITC exported a significant quantity of wheat due to poor production in Russia and Ukraine. Global wheat prices are currently at a 14-year high