Financial Daily from THE HINDU group of publications
Thursday, Jul 14, 2005
Financial Daily from THE HINDU group of publications Thursday, Jul 14, 2005 |
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Agri-Biz & Commodities
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Wheat 1 million t wheat import likely: USDA Our Bureau
Mumbai , July 13 INDIA is likely to import one million tonnes of wheat during 2005-06 and such imports would be for the first time in six years, the US Department of Agriculture (USDA) said, in its latest report on World Agricultural Demand and Supply Estimate. The report projected world wheat output at 612.56 mt, down from 624.51 mt of 2004-05. Indian wheat output is placed at 72 mt, down by 1.5 mt from last month's estimate, but unchanged from last year. Interestingly, Australian wheat output estimate stands unchanged from last year at 21.5 mt, despite recent reports of aberrant weather impacting the crop. World wheat exports are projected higher at 109.13 mt (107.28 mt) partly driven by expectation that India would import one mt. Global consumption placed at 618 mt (606.74 mt) is likely to exceed production by about 5.5 mt.
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