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India's wheat imports slow as traders struggle with unsold stocks

India has suffered a supply shortfall after two years of lower production


India's wheat imports have slowed in recent weeks as good quality domestic crops have hit the market, leaving traders saddled with unsold stockpiles in port silos. Wheat inventories at ports have climbed to a record high of about 1.8 million tonnes, mainly cargoes shipped from Australia and the Black Sea region, trade and industry sources said. "Flour mills are not keen to take imported wheat as they prefer local wheat which is good quality this year," said a trader who has been actively supplying the commodity to India. "It is a headache for traders who ...

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First Published: Wed, May 17 2017. 13:11 IST