Thursday, March 7, 2013

India's Record Export to Impact Wheat Prices

India plans to put record volume of wheat in global markets to cut its massive stocks. And this could mean a lot to Wheat prices on global scale. 

"Wheat exports are a priority issue as the new harvest is about to begin later in the month," said the farm ministry official, who declined to be named as he was not authorized to speak to the media.

It could decide to allow another five million tonnes of wheat exports as early as Thursday, government sources have said -- more than doubling the sales already approved to about 9.5 million tonnes.

India has a golden opportunity, at least for the next few months, before exports from Australia, US, China comes to global markets.

More from Reuters[here]  

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