Breaking News: India Back In Wheat Export Market

Posted by Nogger - a legend in his own mind at 13:16 | Categorized as

30/10/13 -- Breaking news from Dow Jones suggests that the Indian government have agreed to lower the bar on the minimum price they will accept for wheat in international tenders from $300/tonne to $260/tonne.

The move should be sufficient to generate some good sales amongst less fussy buyers. Singapore-based trading company Agrocorp International told Bloomberg that India's wheat exports could jump 32% to a record 7 MMT in the 12 months starting April 1 if the proposal was approved.

Bangladesh yesterday re-issued what now looks like a well-timed tender for 50 TMT of wheat.