The country, which is importing wheat for a second year to build its reserves, may receive its first cargo of the grain next week, helping the government ease supplies and check domestic prices. | |
| A shipment of 40,000 tonnes will arrive at the Mundra port in the western Gujarat state by September 20, a government official, who didn't wish to be identified, said. The cargo is part of the 511,000 tonnes of wheat the country bought in July. |
| |
| Timely deliveries of wheat may help boost supplies at a time when the availability of the grain in the South Asian nation falls short of demand. The government has since July agreed to import a fourth of this year's target of 5 million tonnes at record prices to replenish stockpiles. |
| |
| The country's wheat demand may total 71.32 million tonnes, exceeding an availability of 65.52 million tonnes, Union Agriculture Minister Sharad Pawar said yesterday in parliament. |
| |
| The availability doesn't include 4.56 million tonnes held by warehouses on April 1. Last week, the country bought 50 per cent more wheat than the 530,000 tonnes offered at $384 a tonne to $397.45 a tonne. That's more than the $317 a tonne to $330 a tonne paid to Cargill Inc, Toepfer International and Riaz Trading for half a million tonnes in July. |
| |
| The contract for December delivery rose as much as 1.4 per cent to $8.7275 a bushel in after-hours trading on the Chicago Board of Trade. |
| |
|
| |
