Wheat Prices Crash to $215 as France Enters Market

India to Nurse Stocks from Public Procurement for a Long Time

Trading companies from US-based Cargill aren’t signing contracts for the new crop in India to be harvested in April-May as prices at $275 a tonne were too high.

French wheat is available at $210. (Indian wheat is usually in demand in the Gulf and African countries for milling and in southeast Asian countries for animal feed). The weak Euro and rising rupee is hitting India’s commodity exports.

French ‘feed’ wheat is available still cheaper, at $200 a tonne.

There are no takers for Indian grain in the export market, the pressure on government procurement at the minimum support price is sure to build up.