India to export excess wheat stocks [SoftCommodities] - MarketTicker Forums


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User Info	India to export excess wheat stocks in forum [SoftCommodities]
Lplate Posts: 4737 Incept: 2008-08-06 Australia	Quote: http://timesofindia.indiatimes.com/busin.... Jul 4, 2012 NEW DELHI: India has approved the export of two million tonnes of wheat from its overflowing stocks to create storage space for new crops, the government said on Wednesday. The Cabinet Committee on Economic Affairs (CCEA) has decided to export the excess stock at a floor price of $228 per tonne, an official press release said. "The decision is going to help in disposing of the excess wheat stocks... so as to make space available for the forthcoming kharif (summer) crop of paddy and then wheat crop in the rabi (winter) season," the release said. The CCEA has also decided to set up an expert committee to look into the modalities of export and other operational issues... 2012-07-04 12:22:28 Permalink
Goodlander Posts: 1354 Incept: 2007-10-02 winnipeg Online	Now they just have to find someone to buy it. I guess once cooked all that rat **** would look a bit like rasin bread? Also a job easier said than done, after not moving any grain for several years what little infrastructure they had in place for exporting is going to need a bit of grease. Assuming they can find any that is dry they might have better luck pelletizing it for fuel, or using it for ethanol. ---------- Always drink upstream from the herd. 2012-07-04 12:57:49 Permalink
Lplate Posts: 4737 Incept: 2008-08-06 Australia	Yep, they found 12 of them. Quote: India STC gets lowest bid at $260.25/T from Louis Dreyfus in wheat tender-source http://af.reuters.com/article/commoditie.... NEW DELHI Aug 3 (Reuters) - Germany's leading grain trading house Toepfer International has emerged as the highest bidder for Indian government-run State Trading Corp.'s wheat tender, with an offer of $302 per tonne, a government source said on Friday. Toepfer has offered 35,000 tonnes of wheat. The state-run trader received the lowest bid of $260.25 per tonne from Louis Dreyfus, which has offered 55,000 tonnes, the source added. STC received 12 bids in all for the global wheat export tender that it issued last month, offering 100,000 tonnes of milling wheat... 2012-08-03 08:17:03 Permalink
Asimov Posts: 104048 Incept: 2007-08-26 East Tennessee Eastern Time Online	Is this rotted, rat and mice infested wheat stored on the ground under tarps, or actually stored in somewhat sanitary conditions? ---------- It's justifiably immoral to deal morally with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente. 2012-08-03 15:14:40 Permalink
Avianphlu Posts: 3964 Incept: 2008-12-03 Ulster NY	they are gonna make pink slime with it...all is good 2012-08-03 17:30:42 Permalink
If Posts: 1193 Incept: 2008-01-06	It will end up in our food supply, but don't worry I am sure FDA will be looking out for that kind of thing. Sarcasm definitely on ---------- I finally took the red pill. I have a lot of catching up to do. Please excuse my ignorance. 2012-08-03 17:34:06 Permalink