India may have to import 2 mt of wheat: USDA
Low carry-over stock coupled with likely fall in wheat output may compel India to import about two million tonne (mt) of the grain during 2008-09 marketing year.
By PTI |
New Delhi: Low carry-over stock coupled with likely fall in wheat output may compel India to import about two million tonne (mt) of the grain during 2008-09 marketing year, a report published by the US department of agriculture (USDA) said. The country���s buffer stock is expected to be below four mt.
Wheat production is also pegged lower by 1.3 mt at 74.5 mt, compared to the previous marketing year, the report said. Wheat production is projected to be lower as the total area under wheat acreage has declined by 5,00,000 hectare.
The fall in acreage has been in the states of Madhya Pradesh, Uttar Pradesh, Rajasthan and Bihar due to poor soil moisture and higher temperatures during sowing, it said.
USDA warned that India���s wheat supplies are expected to come under pressure as demand for the grain through the public distribution system continues to rise. ���Unless the government resorts to wheat imports, stocks by the end of 2008-09 marketing year could fall below the desired buffer stock level of four mt,��� it added.
With the general election due in early 2009, the government would take all steps to increase domestic supply of wheat and check rising prices, it said.
India has, so far, contracted 1.8 mt of wheat for shipment through March.
Wheat production is also pegged lower by 1.3 mt at 74.5 mt, compared to the previous marketing year, the report said. Wheat production is projected to be lower as the total area under wheat acreage has declined by 5,00,000 hectare.
The fall in acreage has been in the states of Madhya Pradesh, Uttar Pradesh, Rajasthan and Bihar due to poor soil moisture and higher temperatures during sowing, it said.
USDA warned that India���s wheat supplies are expected to come under pressure as demand for the grain through the public distribution system continues to rise. ���Unless the government resorts to wheat imports, stocks by the end of 2008-09 marketing year could fall below the desired buffer stock level of four mt,��� it added.
With the general election due in early 2009, the government would take all steps to increase domestic supply of wheat and check rising prices, it said.
India has, so far, contracted 1.8 mt of wheat for shipment through March.
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