LIVE MARKET TRACKER :   BSE SENSEX   26429.85      |    NSE NIFTY 7879.40    
GLOBAL MARKETS :  NASDAQ 4316.075   +1.35%    |    FSI London 6267.07   -0.68%    |    NIKKEI Japan 15068.53   -0.28%
  USD GBP EUR CAD AUD INR
USD - 0.6187 0.7814 1.1293 1.1379 61.365
GBP 1.6165 - 1.2631 1.8256 1.8394 99.1978
EUR 1.28 0.7919 - 1.4455 1.4565 78.5441
CAD 0.8856 0.5479 0.6919 - 1.0077 54.3423
AUD 0.8791 0.5439 0.6869 0.9928 - 53.9447
INR 0.0163 0.0101 0.0127 0.0184 0.0185 -
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
RBI governor hopes the economy to grow by 5.5% this year
(17-Oct-2014)

RBI governor hopes the economy to grow by 5.5% this yearReserve Bank of India (RBI) governor Raghuram Rajan has expressed hopes on the Indian growth story and has said that the country is seeing a pick-up in economic growth and more can be done to support it......click on news to read complete article.

Tata Steel, UltraTech and NTPC to see some action today
(16-Oct-2014)

Tata Steel, UltraTech and NTPC to see some action todayTata Steel has signed a memorandum of understanding with the Geneva-based Klesch group for the potential sale of its long products business in Europe and associated distribution activities. The division......click on news to read complete article.

September CPI eases to an all time low level of 6.46%
(14-Oct-2014)

September CPI eases to an all time low level of 6.46%In an extremely encouraging development, India's consumer price inflation eased at an all time low level since the launch of the new series of Consumer Price Index in 2012, at 6.46% in September as compared......click on news to read complete article.

International Stock News
US markets closed higher; Dow snaps 6-day losing streak
(18-Oct-2014)

US markets closed higher; Dow snaps 6-day losing streakThe US markets closed higher on Friday, with Dow snapping 6-day losing streak, as earnings beat estimates, consumer confidence reached a seven-year high and investors speculated that central banks will......click on news to read complete article.

US markets closed mostly higher; Dow ends in red
(17-Oct-2014)

US markets closed mostly higher; Dow ends in redThe US markets closed mostly higher on Thursday, recovering from early losses though Dow ended in red. The gains were induced with Bullard statement that the Federal Reserve should consider extending its......click on news to read complete article.

US markets closed lower on weak economic data
(16-Oct-2014)

US markets closed lower on weak economic dataThe US markets closed lower on Wednesday, on account of weak economic data, stocks however recovered from their lowest level of the day before the close. On the economy front, sales at US retailers fell......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.