The Hindu Business Line : 7.3 lakh tonnes wheat arrives in ports

Arrivals data
India is likely to receive 1.43 million tonnes of wheat at its ports by the end of September.
Since April, 7.25-lakh tonnes out of a total of 3.83 mt contracted have arrived, and another 5.25-lakh tonnes are expected by September 15.
Between September 16-30, another 1.76-lakh tonnes is expected to land.

THE SECRETARY, Department of Consumer Affairs, Mr L. Mansingh, (right) with the Joint Secretary, Department of Food, Mr Sanjay Kaul, at a press conference to announce the Government efforts to maintain the prices of essential commodities, in the Capital on Friday. — Ramesh Sharma

New Delhi , Sept. 1

A total 7.26-lakh tonnes (lt) of the 38.3-lt wheat contracted by the State Trading Corporation of India (STC) on behalf of the Union Government has so far arrived on Indian shores.

Briefing presspersons here on Friday, the Secretary, Department of Consumer Affairs, Mr L. Mansingh, said that the first two vessels of 92,000 tonnes arrived during April-May, followed by another six of 2,94,761 tonnes that were received by the Food Corporation of India (FCI) by August 27.

"Besides, five vessels carrying 2,58,680 tonnes are currently at discharge at Chennai, Cochin and Vizag ports. Two others with 80,319 tonnes are under fumigation, quality check and berthing at the Vizag and Chennai ports. So, that takes the total quantum of wheat to have arrived at 7.26 lt," he said.

By September 15, another seven vessels with 5.25 lt would reach Indian ports and three more with 1.76 lt to dock by the month-end.

Thus, in all, 14.27 lt or over 37 per cent of the total 38.3-lt so far contracted by the STC would have come into the country before September. STC has additionally floated tenders for import of another 16.70 lt, for which bids would be opened on September 5.

"We will have imports of 6-7 lt taking place every month, rising to about nine lt by December-January. By mid-February, the entire 55 lt would have come into the country," Mr Mansingh added.

The Joint Secretary, Department of Food and Public Distribution, Mr Sanjay Kaul, said that the Government was determined FCI had opening wheat stocks of at least 40 lt on April 1, 2007, which is the normative buffer before the start of the new rabi marketing season. Stocks in the Central pool as on August 1 stood at 73.3 lt.

"We do not want a repeat of last year, when we started with stocks of just 20 lt. It was this precarious inventory position more than a drop in production that was the main reason for speculative pressures. In 2002-03, we saw wheat output drop massively to 650 lt. Yet there was no large-scale entry by the private trade, simply because we were holding over 150 lt of stocks and they knew there was little profit to be made," Mr Kaul said.

He estimated total purchases by large players, including ITC, Cargill, Reliance, Adani and Ruchi, at about 15 lt.

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