June 21, 2012

India's wheat imports up 34% in current marketing season

As of June 18, 2012, Indian government's total wheat purchase target of 31.8 million tonnes for the current marketing season has already been exceeded at 36.73 million tonnes, 34% up in this year compared to last year.

This rise of 34% can be attributed to a record production of wheat which has helped procurement of the essential staple. Besides, the wheat arrivals stood at 38.97 million tonnes as on June 18, 2012, according to the latest government data. In the same period of the 2011-12 wheat marketing season (April-March), the government had purchased 27.32 million tonnes of wheat. In the current season, wheat purchase in Punjab stood at 12.82 million tonnes while in Haryana it was at 8.66 million tonnes of wheat.

Also, Madhya Pradesh and Uttar Pradesh have procured nearly 8.49 million tonnes and 4.17 million tonnes of wheat, respectively. Wheat production of India, the world's second-largest producer, is estimated at a record 90.23 million tonnes in the 2011-12 crop year (July-June). The minimum support price of wheat stands at INR1,285 (US$23) per quintal.