Pvt firms to import 1.5 lakh tonne wheat

The private trade has contracted for the import of about 1.5 lakh tonne of wheat, according to the food ministry. This is in addition to 30 lakh tonne of wheat being imported by the public agencies on the government account.

A press note issued by the ministry on Tuesday said that the consignment of wheat being imported by the private trade would arrive shortly at Mumbai and Chennai ports.

Of the 30 lakh tonne of wheat contracted for imports by the public sector bodies, about 7.65 lakh tonne would reach the Indian ports by the end of this month. About 1.59 lakh tonne of wheat was expected to arrive this week before Saturday. With this, the total imported wheat that has already reached the country would amount to 4.37 lakh tonne.

Steps have also been taken by the ministry to import 3.5 lakh tonne of more wheat in addition to 30 lakh tonne already contracted for.

The note also added that sugar production was likely to touch 229 lakh tonne this year, against 192 lakh tonne last year.

The government proposed to release 2 lakh tonne more non-levy sugar in September 2006 than 13 lakh tonne released in August 2006.

Meanwhile, a government official said on Wednesday State Trading Corp. is likely to buy nearly 70,000 tonne wheat from Australia's monopoly wheat exporter AWB, Earlier, STC had awarded a 330,000-tonne wheat supply contract to Switzerland's Agrico Trade and Finance at US $210-212 a tonne, on cost and freight basis. STC had floated a tender to import 400,000 tonne wheat.