September 5, 2006
Indian company buys 200,000 tonnes Black Sea wheat
A Delhi-based trading company has purchased 200,000 tonnes Black Sea-origin wheat at US$187-US$210 a tonne, cost and freight basis for delivery in several cargoes in September and October, a company executive said Monday (Sep 4).
"All purchases were made in August on behalf of private processors and the first shipment carrying 25,000 tonnes has even landed in the southern port of Tuticorin while another with 40,000 tonnes is on the high-seas," the official said.
He said the imports will get a boost with government's announcement Monday of a cut in the import duty to zero from the existing 5 percent.
Trading companies can now easily ship in at least 2.0 million tonnes of wheat by February, he said.