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☆ Indian wheat prices at 8-month high on festival demand, tight supply
  + stars: | 2023-10-17 | by ( Rajendra Jadhav | ) www.reuters.com   time to read: +2 min
REUTERS/Amit Dave/File Photo Acquire Licensing RightsMUMBAI, Oct 17 (Reuters) - Indian wheat prices surged to an eight-month high on Tuesday, propelled by strong demand for big festivals, limited supplies and as import duty makes overseas buying unfeasible for domestic flour mills. Rising wheat prices could contribute to food inflation. Wheat prices in New Delhi jumped by 1.6% on Tuesday to 27,390 rupees ($329) per metric ton, the highest since Feb. 10. "Festival season demand is driving up wheat prices. As of Oct. 1, wheat stocks in government warehouses stood at 24 million metric tons, sharply down compared with a five-year average of 37.6 million tons.
Persons: Amit Dave, Pramod Kumar S, Sanjeev Chopra, Ashwini Bansod, Bansod, Rajendra Jadhav, Robert Birsel Organizations: Agriculture, REUTERS, Rights, Federation, Phillip Capital India, Ltd ., El, Thomson Locations: Ahmedabad, India, Rights MUMBAI, New Delhi, Ltd . India, Mumbai
☆ India considers wheat imports from Russia at discount to calm prices - sources
  + stars: | 2023-08-17 | by ( Aftab Ahmed Rajendra Jadhav | Aftab Ahmed | Rajendra Jadhav | ) www.reuters.com   time to read: +3 min
The imports would allow New Delhi to intervene more effectively in the market to drive down wheat prices that stoked inflation to a 15-month high in July. "The government is exploring the possibility of imports through private trade and government-to-government deals. The decision will be made cautiously," one of the sources told Reuters, when asked about wheat imports from Russia. Wholesale wheat prices in India surged around 10% over two months to a seven-month high in August on limited supplies. Wheat stocks at government warehouses were at 28.3 million tons on Aug. 1, 20% below the 10-year average.
Persons: Alexander Ermochenko, Sanjeev Chopra, Aftab Ahmed, Rajendra Jadhav, Mayank Bhardwaj, Sonali Paul Organizations: REUTERS, Reuters, Thomson Locations: Russia, Ukraine, Nikolske, Donetsk Region, Russian, DELHI, MUMBAI, India, New Delhi, Mumbai
☆ India considers wheat imports from Russia at discount to calm prices-sources
  + stars: | 2023-08-17 | by ( Aftab Ahmed Rajendra Jadhav | Aftab Ahmed | Rajendra Jadhav | ) www.reuters.com   time to read: +3 min
The imports would allow New Delhi to intervene more effectively in the market to drive down wheat prices that stoked inflation to a 15-month high in July. "The government is exploring the possibility of imports through private trade and government-to-government deals. The decision will be made cautiously," one of the sources told Reuters, when asked about wheat imports from Russia. Wholesale wheat prices in India surged around 10% over two months to a seven-month high in August on limited supplies. Wheat stocks at government warehouses were at 28.3 million tons on Aug. 1, 20% below the 10-year average.
Persons: Alexander Ermochenko, Sanjeev Chopra, Aftab Ahmed, Rajendra Jadhav, Mayank Bhardwaj, Sonali Paul Organizations: REUTERS, Reuters, Thomson Locations: Russia, Ukraine, Nikolske, Donetsk Region, Russian, DELHI, MUMBAI, India, New Delhi, Mumbai
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