Why bother with the small Iraq market when India is importing for the first time in 6 years.
India OKs Wheat Import From Australia's AWB - Source -2- (MORE TO FOLLOW) Dow Jones Newswires
February 28, 2006 09:08 ET
AWB Quoted Around $179/Ton In India Wheat Tender
(MORE TO FOLLOW) Dow Jones Newswires
February 28, 2006 09:08 ET
India To Import 500,000 Tons Wheat From AWB
(MORE TO FOLLOW) Dow Jones Newswires
February 28, 2006 09:09 ET
AWB Quoted Around $179/Ton In India Wheat Tender
(MORE TO FOLLOW) Dow Jones Newswires
February 28, 2006 09:09 ET
AWB Wheat Expected To Land In India By April-May
(MORE TO FOLLOW) Dow Jones Newswires
February 28, 2006 09:09 ET
AWB Wheat Delivery Expected In India By April-May
(MORE TO FOLLOW) Dow Jones Newswires
February 28, 2006 09:10 ET
India Govt OKs Wheat Import From Australia's AWB - Source
NEW DELHI (Dow Jones)--The Indian government has approved the bid of Australia's AWB (AWB.AU) for supply of 500,000 tons of wheat, a government source said Tuesday.
"The government has given its approval. Now it is for State Trading Corp. or STC to decide on the contract," the source told Dow Jones Newswires.
(MORE TO FOLLOW) Dow Jones Newswires
February 28, 2006 09:15 ET
India OKs Wheat Import From Australia's AWB - Source -2-
The source said AWB's bid was the lowest in the tender at $179/ton, cost and freight.
He said imports are expected to help replenish government stocks of wheat in the case of drought or floods.
Wheat stocks with the government, as of Feb. 24, are estimated at 3.8 million tons, considered adequate to meet local demand up to May 20.
The government expects imports to make the stock position more comfortable.
Many of the bidders said it was one of the toughest tenders they have ever participated in to supply wheat.
According to the tender the tolerance limit for hydrogen phosphide in the imported wheat has been set at nil.
The wheat has to be from the current 2005-06 crop and will be imported through the country's five southern Indian ports - Mangalore, Chennai, Tuticorin, Visakhapatnam and Cochin - between March and mid-May.
Between 250,000 and 300,000 tons have to arrive by April.
The moisture content in the wheat should be a maximum 12%, the tender document said, and the minimum protein content on a dry weight basis should be 10%.
It also set limits for insecticides and pesticides and listed 32 types of poisonous weed seeds from which imported wheat should be free.
Earlier this month, the Indian government approved the import of 500,000 tons of wheat through STC without levying import taxes, to augment domestic supplies and rein in prices, marking the first time in six years India has imported wheat.
According to the government's latest estimates, India's wheat output in 2006 is likely to be 73.1 million tons, compared with 72 million tons last year.
