LIVE MARKET TRACKER :   BSE SENSEX   26717.37      |    NSE NIFTY 8097.00    
GLOBAL MARKETS :  NASDAQ 4939.33   -1.55%    |    FSI London 6948.75   +0.31%    |    NIKKEI Japan 19531.63   +0.06%
  USD GBP EUR CAD AUD INR
USD - 0.6571 0.8907 1.2027 1.2509 63.5530
GBP 1.5219 - 1.3558 1.8301 1.9045 96.7245
EUR 1.1228 0.7378 - 1.3500 1.4045 71.3586
CAD 0.8319 0.5466 0.7410 - 1.0407 52.8727
AUD 0.7996 0.5256 0.7122 0.9616 - 50.8087
INR 0.0157 0.0103 0.0140 0.0189 0.0197 -
Indian-Commodity  :  Commodities  :  Wheat  :  India's wheat exports expected to touch 6 million tonnes in 2012-13 (MY): USDA

India's wheat exports expected to touch 6 million tonnes in 2012-13 (MY): USDA (17-Dec-2012)

India's wheat export is likely to touch 6 million tonnes in the 2012-13 marketing year (MY) - 3 million tonnes each of government and open-market wheat, on the back of firm global prices, as per the United States Department of Agriculture (USDA) report. With the current tight open market supplies of wheat, private wheat exports are expected to decline drastically in the near future.

With expected firm international wheat prices, export prospects are also looking favourable through the first quarter of calendar year 2013, the government most likely will further augment the government-held wheat export quota, it added.

The government wheat is currently fetching good export rates compared to the PDS wheat price of Rs 2,000-6,100 ($36-110) per tonne, MSP for MY 2012-13 of Rs 12,850 ($234) per tonne and open market sale price for bulk consumers in most states. The government's decision to export 2 million tonnes of wheat from central stocks fetched a rate in the range of $296.70-319.50 per tonne.

Earlier this year, the government had allowed export of 2 million tonnes of the grain from central pool stocks of Food Corporation of India (FCI) through central public sector undertakings (CPSUs) like STC, MMTC and PEC. The Commerce Secretary S R Rao had said that the Food Ministry will move a proposal for allowing export of an additional 2.5 million tonnes of wheat from the central stocks in order to ease the storage crunch being faced by the country due to an all time high production. India produced a record high of 93.90 million tonnes of wheat crop in the 2011-12 crop year (July-June).

The government has a wheat stock of 37.65 million tonnes as of Dec 1, 2012, which is more than double the stipulated buffer and strategic stock requirement of 11.2 million tonnes as of January 1, 2013. United Nation's body, Food and Agriculture Organisation (FAO) has estimated India's wheat exports to touch 5 million tonnes in the 2012-13 MY.


Top News Today
Indian economy to grow in the range of 8.1- 8.5 per cent: Jayant Sinha
(06-May-2015)

Indian economy to grow in the range of 8.1- 8.5 per cent: Jayant SinhaMinister of State (MoS) for Finance, Jayant Sinha has said that benign oil prices, likely monetary policy easing by the Reserve Bank of India (RBI) and lower inflation will help the Indian economy to grow......click on news to read complete article.

FM pitches for deeper engagement of ADB for smart cities, industrial corridors and railways
(05-May-2015)

FM pitches for deeper engagement of ADB for smart cities, industrial corridors and railwaysFinance Minister Arun Jaitley has pitched for deeper engagement of the Asian Development Bank (ADB) in development of smart cities, industrial corridors and railways for the government's various ambitious......click on news to read complete article.

Government forms Coordination Committee to address the issue GFS data
(04-May-2015)

Government forms Coordination Committee to address the issue GFS dataGovernment facing various restraints in reporting Government Finance Statistics (GFS) data, including manual compilation of data from detailed demand of grants for economic and functional classification......click on news to read complete article.

International Stock News
US markets slips on weak trade deficit data
(06-May-2015)

US markets slips on weak trade deficit dataThe US market closed lower on Tuesday, with the S&P 500 suffering its biggest one-day percentage decline in six weeks, erasing all the gains from the previous two sessions. Feeding jitters was......click on news to read complete article.

US markets closed in green; S&P shy of record high
(05-May-2015)

US markets closed in green; S&P shy of record highThe US market closed higher on Monday, amid low volatility and lower-than-usual volumes, while S&P 500 closed shy of record high. Market reaction to a report on factory orders, which rose 2.1%......click on news to read complete article.

US market surges on bargain hunting despite mixed economic data
(02-May-2015)

US market surges on bargain hunting despite mixed economic dataUS markets surged on Friday on bargain hunting following the notable pullback seen over the past week. Traders also rejoiced the Institute for Supply Management's (ISM) report showing that activity in......click on news to read complete article.

 

     
  
Recent Wheat News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.