Among the countries that may seek to replace Ukrainian wheat with shipments from India are nearby Bangladesh and Indonesia, Karavaytsev said, noting that freight rates would be cheaper from India to any of the Asian destinations that typically import wheat from Ukraine.

“The quality of Indian wheat has improved, and some varieties are even suitable for producing pizza dough and pasta,” Karavaytsev said. “Having said that, looking at the shipping capacity from India, we think the volume available for shipment will depend on the government procurement target for the upcoming season, and also domestic shipping capacity and the cost of shipping from the provinces to ports.”

India, which typically ranks second to China in annual wheat production but accounts for less than 1% of exports, has in recent months made large deliveries of milling wheat to Bangladesh, Indonesia, the Philippines and the United Arab Emirates. It also has exported feed wheat to South Korea and Thailand, the IGC said.

The Council added that India is reported to be in final talks to start exports to Egypt, with ongoing discussions taking place with Turkey, China, Sudan, Nigeria and Iran.