New Delhi: Wheat exports from India is expected to touch a record high of 7.5 million tonnes (MT) in the current marketing year ending June 2013, on the back of record crop and larger carry over stocks, while many other exporting nations are expected to face tight supplies, according to a report by Food and Agriculture Organisation (FAO).
Shipments from India remained lower in marketing year 2011-12, as wheat export was allowed via private trade only after lifting the ban on the same in September 2011, as per the market experts.
To reduce stocks built up due to record harvest, India is promoting export of government-held stocks. It has already allowed state-run firms to export 4.5 MT of wheat. Additionally, the Government permitted private traders to ship additional grain.
Wheat plantings in India are close to previous year’s levels and another bumper crop is in prospect, although forecast is slightly below the 2012 record (93.90 MT) because of limited rainfall in some important producing areas.
While, Russian Federation, European Union (EU), Australia are forecast to face tight supplies which will lead to reduced exports from these countries, larger exports by India will help in easing the market situation.
No comments:
Post a Comment