Indian Gvt buys 15.4MMT Local Wheat So Far
India's Finance Minister P.Chidambaram said Friday that government agencies have acquired 15.4 million tons of wheat as of yesterday, higher than last year's 11.1 million tons and above the full year requirement of 15 million tons.
Purchases top 15 million metric tons for the first time in two years because of a higher market intervention price and bumper production.
Considering that the Indian harvest only started in March & government purchases only began April, thats a phenomenal figure in such a short period. Its not likely that we are going to be seeing India tendering for wheat anytime soon.
Purchases top 15 million metric tons for the first time in two years because of a higher market intervention price and bumper production.
Considering that the Indian harvest only started in March & government purchases only began April, thats a phenomenal figure in such a short period. Its not likely that we are going to be seeing India tendering for wheat anytime soon.
