India: Importers purchased about 500,000 tons of wheat

Indian importers bought in the past few months about 500,000 tons of wheat. Mainly, of wheat in Australia to supply was purchased in November and December at Indian ports including Tuticorin, Kochi and Kakinada.
After a very weak crop, second largest wheat producer has India, worldwide, reduced its import tax on grain in September by 25% to 10%.
Total India's import requirement is up to 3 million tons of wheat. This is the largest amount for a decade. India mainly covers its import demand in France, Australia and the Ukraine.
European traders expect more wheat imports by Indian importers in the near future.
Australia expects a large wheat crop and a correspondingly low price level that leads to a competitive advantage compared to the Ukraine and Russia.

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