Indian buyers purchased around 76,000 tonnes Ukrainian wheat

22.09.2016

Indian importers have purchased around 76,000 tonnes of Ukrainian-origin wheat in the past couple of weeks as India increases its wheat imports after a poor crop, European traders said on Tuesday.

One shipment of around 51,000 tonnes was purchased for September shipment and another of 25,000 tonnes was bought for October shipment, they said.

It is possible that more could have been purchased, they said.

The deals were in addition to wheat bought by India from Ukraine reported in early September.

"For Indian imports, much will depend on whether the Indian government decides to end or prolong its import duties on wheat," one trader said.

In June, the Indian government extended the 25 percent tax on wheat imports but gave no time scale for the extension.

Wheat traders and industry representatives in India said on Sept. 2 they expect the country to increase international wheat purchases significantly over coming months after disappointing harvests.

India has already bought about 600,000 tonnes of wheat in 2016, the most in nine years and recent purchases could have brought the total close to 900,000 tonnes, traders said.

"If India decides to keep the import duty in place there is speculation that some recent purchases may not be delivered," another trader said.


thedailystar

Readers choice: TOP-5 articles of the month by UkrAgroConsult