Indian importers have purchased around 76,000 tons of Ukrainian-origin wheat in the past couple of weeks as India increases its wheat imports after a poor crop.
One shipment of around 51,000 tons was purchased for September shipment and another of 25,000 tons was bought for October shipment.
It is possible that more could have been purchased.
The deals were in addition to wheat bought by India from Ukraine reported in early September.
“For Indian imports, much will depend on whether the Indian government decides to end or prolong its import duties on wheat”, a trader said.
In June the Indian government extended the 25% tax on wheat imports but gave no time scale for the extension.
Wheat traders and industry representatives in India said on September 2, they expected the country to increase international wheat purchases significantly over coming months after disappointing harvests.
India has already bought about 600,000 tons of wheat in 2016, the most in nine years and recent purchases could have brought the total close to 900,000 tons, traders said.
“If India decides to keep the import duty in place there is speculation that some recent purchases may not be delivered”, another trader said. (The Daily Star/Business World Magazine)
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