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Thursday, August 23, 2007

Indian Govt launches another wheat tender

India says it wants to import wheat, but will not specify how much it wants, the price it will pay or when it needs the grain delivered.

It is the third tender launched by the Indian Government this year to top up the country's reserve stocks.

India has said it will consider tenders for wheat either in bulk shipments, or smaller quantities in containers.

Analyst Lloyd George says even with a deregulated container trade for Australian growers, it is unlikely the local market will weigh in.

"I think the issue of old crop reserves in the Australian market is going to limit it, because we're in August and the shipment period, I would be thinking, is going to be prior to Australian new crop coming on board, so I think it's going to be fairly tough," he said.

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