Beijing, Sept 18: A big drop in France's wheat output raised the hopes of Indian grain exporters to strike sales to Egypt, but falling US prices may dampen prospects, traders said. Indian wheat got the green light from Egyptian buyers this April, but sales have yet to take place despite Indian suppliers pushing hard.
Earlier this month, with France revising down its soft wheat crop by more than 21 per cent to around 30 million tonnes, Indian buyers saw a ray of hope to kick off sales.
"Talks are going on but nothing has materialised," said an Indian wheat trader attending a two-day Asian wheat conference in Beijing. "They are very fussy about the quality. One has to be very careful."
Egypt, one of the world's biggest wheat importers, annually buys up to seven million tonnes of the grain. It is one of the top destinations for US wheat but faces a stiff challenge from aggressive French offers.
Bureau Report