Already, about 6,00,000 tonnes of wheat has been imported from Australia, Ukraine, France and Russia
Traders said reduced offtake by flour mills also contributed to it
From April onwards, wheat prices have gone up in India by 15 per cent
India has already bought about 600,000 tonnes of wheat in 2016, the most in nine years
The silos will have a combined wheat storage capacity of about 1,75,000 tonnes
ITC taking steps to scale up sourcing
Wheat procurement in the central pool as on date is 22.9 mt; the target was to purchase around 28 mt
A cool weather laden with moisture is good for the wheat crop. However, such a climate has been absent this year
Dip attributed to more active buying by private agencies this year
RBI extended validity of authorisation of Rs 17,523 cr as cash credit limit for wheat crop of the rabi 2016-17 season in Punjab till May
Traders said fall in demand from flour mills against sufficient stocks position led to the decline in wheat prices
ASSOCHAM said bad weather will shave off at least 13 mt from farm ministry's latest forecast of 93.8 mt for 2016
Wheat crop is already matured and would be harvested from next fortnight
Exports fall 82% in April-Dec to 550,000 tonnes