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LATEST NEWS UPDATES | Food processing companies brace for wheat shortage -Devika Singh

Food processing companies brace for wheat shortage -Devika Singh

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published Published on Apr 26, 2022   modified Modified on Apr 27, 2022

-Moneycontrol.com

The country is expected to face a shortfall of the cereal in the months ahead as produce in the rabi season is expected to be below estimates, while globally, too, there is a supply crunch on account of Russia-Ukraine war.

Food processing companies such as iD Fresh Food, Mrs Bector's Food Specialities and CG Corp Global are getting ready to combat a possible shortage of wheat due to the combined effects of hoarding by farmers and traders, and the fallout of the Ukraine-Russia war. Furthermore, industry stakeholders indicate that the supply of the produce may further suffer in the months ahead due to yield loses in states like Punjab and Haryana, the top producers of the grain in the country. Hence, these companies are prepared to increase wheat inventory and are also considering a hike in the price of products as wheat rates go up.

“Our vendors are finding it difficult to source wheat and the situation is expected to worsen going ahead if the government does not intervene,” said Sandip Balakrishnan, head, procurement, India and GCC (Gulf Cooperation Council, a grouping of Persian Gulf nations) at iD Fresh Food.

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Moneycontrol.com, 26 April, 2022, https://www.moneycontrol.com/news/business/companies/food-processing-companies-brace-for-wheat-shortage-8406991.html?fbclid=IwAR0ZcE7YaYdZb-_mo8q1_KQM3aX5jwGkhFpFt53xYvix5Tb5p3OlvaZuZls


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