November 14, 2005

Australia's AWB awaits possible Indian wheat import news

Australian wheat exporter AWB Ltd. (AWB.AU) still awaits an announcement from the Indian government about possible imports of wheat, company spokesman Peter McBride said Monday.

The company has not heard from the government about any import plans, he said.

"We're really waiting to see if they come into the market," he said in a brief interview.

Speculation in the global grain trade had India resuming wheat imports in coming months, with this already providing some support for prices.

AWB executives suggested late September that India might need to import up to two million tonnes of wheat.

India's food secretary, R.N. Das, said late October, however, that it was unlikely India would import wheat in coming months, pointing to ample domestic stocks of rice and wheat.

India's wheat crop is sown from November to January and harvested in February and March.

On Nov 10, the US Department of Agriculture forecast production from the new wheat crop in India at 72.0 million tonnes, down slightly from the actual old crop output of 72.1 million tonnes.