June 7, 2012

India's wheat exports up over one million tonnes after ban removal

After the government lifted a ban on September, India's wheat exports have surpassed one million tonnes, with most sales made to the Middle East and North Africa, traders, shipping executives and cargo surveyors said.

Around 600,000 tonnes from previous years' crops and nearly 450,000 tonnes of the most recent April-May harvest have been sold overseas, they said Tuesday (June 5). The estimate includes around 125,000 tonnes currently loading at ports.

India's wheat is among the world's cheapest. Grades with 11.5% and 12% protein were recently offered around US$252/tonne and US$255/tonne, free on board, respectively.