Business Standard

Malaysia seeks regular supply of wheat from India

Thomas says decision would be taken after the Malaysian government sends a formal proposal

Related News

Aiming to enhance bilateral trade with India, the Malaysian government today sought regular supply of from India, which is sitting on a huge stocks of the foodgrains.

India lifted ban on wheat exports from September 2011 following record bumper production and procurement.

"The way Iran wants to buy wheat from India on long-term basis, the Malaysian government is also interested to have long-term contract with India for wheat," Food Minister K V Thomas told reporters after meeting the visiting Malaysian Agriculture Minister Datuk Seri Noh Bin Omar, here.

Some small quantity of wheat is being exported through private trade to the Southeast Asian country. However, wants long-term contract with India for supply of Indian wheat through diplomatic channel, he said.

Thomas said a decision on this issue would be taken after the Malaysian government sends a formal proposal.

"We have asked them to send a formal proposal and also a technical team to India to check the quality of our grain," the minister said.

Other issues related to palm oil were also discussed during the meeting, he added.

Asked about progress made in Iran export deal, Thomas said, "Some issues still remain unresolved at their end. They have to get back."

In the face of surplus stocks, India is now scouting for global wheat market. Over 1.5 million tonne wheat via private trade has already been exported since September 2011.

As on October 1, the government godown has a stock of 66.52 million tonne, against 51.78 million tonne a year ago.

Read more on:   
|

Read More

Spices up on festive buying, better rabi crop estimates

Boosted by festive buying and better rabi crop prospects on favourable climate, spices complex were up in early-Wednesday trade on the National ...

Quick Links

 

Market News

Marksans Pharma surges on strong Q2 results

The stock rallied 6% to Rs 64 on NSE after reporting 56% yoy growth in net profit at Rs 31 crore in September quarter.

Markets continue winning streak; Sensex up 400 points

The 30-share Sensex is up 412 points at 27,758 and the 50-share Nifty has gained 119 points to trade at 8,288.

Copper down 0.2% on weak global cues

Metal for delivery in November shed 0.14%

Silver down 0.6% on weak global trend

Weak trend trend overseas, eroding demand for the precious metals, pulled down silver prices

Lead up 0.2% on spot demand, short-covering

Market analysts said besides better demand in spot market, covering-up of short positions by speculators, supported the upside

Back to Top