New Delhi, June 24: After a record export of 5.2 million tonnes in last fiscal, India has sold another 12, 000 tonnes to neighbouring Bangladesh. "Bangladesh is one of the largest buyer of Indian agro commodities. A trading house has sold 12,000 tonnes wheat at 135 dollars a tonne, cost and freight (C&F) to the eastern neighbour," official sources told a news agency.
They said the precise shipment dates were, however, not available "offhand". The contract was for the crop harvested in 2002 and the transaction was based on currently applicable ex-granary prices which have been hiked effective from July 1. India still exports three lakh tonnes wheat every month and it will be incorrect to describe the country's exports as "incompetetive", they added.
While Bangladesh is one of the largest buyers, country's wheat has established its mark in South-East Asian countries, West Asia and even forays into African region have been successful, they added. Last month, government announced hike in ex-granary rates at which it will sell wheat to exporters by Rs 300-600 per tonne effective from July 1, making country's wheat costlier by around 6.5-13 dollars a tonne in world market. The new wheat crop harvested last month will be available at Rs 5550 per tonne and 2002-3 crop at Rs 5,250 per tonne.
Nevertheless, exporters have continued to strike deals at current prices, as government will provide an additional 30 days from July 1 onwards to lift stocks at these rates against quantities for which money has already been deposited.
Bureau Report