HAMBURG Indian importers have purchased at least 140,000 tonnes of Australian-origin wheat in the past couple of weeks as India increases its wheat imports after a poor crop, European traders said on Wednesday.
Some traders said the total purchased was higher. Some said that in addition to the Australian supplies, wheat was also bought by India from another origin.
India's 2016/17 wheat imports are expected to surge to their highest in a decade, as a severe drought linked to an El Nino weather event and unseasonal rains cut the country's harvest.
Traders said the Australian purchases involved 30,000 tonnes at $236 a tonne c&f for end-June shipment, 25,000 tonnes at $241 a tonne c&f also for end-June shipment and 30,000 tonnes at $243.50 a tonne c&f for July shipment, they said.
A further 35,000 tonnes was bought at $242 a tonne c&f for July shipment and 20,000 tonnes at $241 a tonne c&f for July/August shipment, they said.
Purchases mainly involved Australian premium white wheat (APW), they said.
Traders had on March 3 reported purchases of about 60,000 tonnes of Australian wheat by Indian mills in their first international purchases this year.
(Reporting by Michael Hogan, editing by Adrian Croft)
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Published Date: May 05, 2016 12:00 am | Updated Date: May 05, 2016 12:00 am