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February 10, 2008 Sunday Safar 02, 1429





India in no rush to import wheat


BANGALORE, Feb 9: India will not need to import wheat in the next three months as the new crop harvest nears, but New Delhi will keep its options open, a senior government official said on Saturday.

Food Secretary T. Nandakumar also added the government was talking to governments of some exporting countries to ensure that they could buy wheat on the government account if needed.

“In the next two to three months, I have absolutely no concerns of any kind. The harvest is coming and there is no question of imports,” he told reporters on the sidelines of a wheat conference here.

But he did not rule out the possibility of buying from overseas later during the year.

“Look, the government has all options. At what point of time, which option will be taken, it depends on that day's situation,” Nandakumar said.

India's annual wheat sowing takes place between October to November and harvest starts in late February.

The government has estimated that wheat output this year would be about 75m tons, and the buffer stock position on April 1 would be around 5.3 million tonnes, against a target of 4 million tonnes.

Nandakumar said he anticipated local wheat prices to remain stable during the year.

“This year, we will manage the price. —Reuters






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