Wheat seed is one of the most consumed staple foods all across globe. The trade of wheat is more than the combined total of other crops. In 2014, it was cultivated in more than 220.4 million hectares of area. After maize (corn), wheat is the second most produced and consumed cereals. India is the second largest producer of wheat after China. India is also one of the biggest consumers of wheat.
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The production of the wheat is increasing rapidly since 1960 and it has almost tripled in 2016. Total world wheat trade is projected to increase from 122.1 MT in 2014 to 137.2 Mt in 2024 with the increase rate of around 12.4%. In India alone, wheat production has increased by 120% since 1980s. In India, wheat is mostly grown in the northern states with Uttar Pradesh being the leader in the wheat production with a total production of about 15.22 million tones with Punjab at second place with the production of 15.78 MT.
China, Algeria, Brazil and Egypt are the major importers of wheat. China was the highest importer of rice until 1995 but now its wheat import quantity largely depends upon its domestic production and volatile import policies. The European Union and United States are the major importers as well as exporters of wheat. European Union mostly imports its rice from United States, Argentina, Australia and Canada, while the US Imports wheat mostly from its neighboring country Canada.
United States and Canada are the leaders in export of wheat. Canada mostly export hard spring wheat and durum wheat along with United States. European Union is the major competitor of US and Canada in wheat export.