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2007 wheat stocks to be tight: Report

2007 wheat stocks to be tight: Report
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First Published: Tue, Feb 27 2007. 09 35 AM IST
Updated: Tue, Feb 27 2007. 09 35 AM IST
Reuters
Washington: Despite higher wheat production this year, India’s overall wheat supply situation is likely to remain tight, a New Delhi-based US attache said in a report released on Monday.
US officials said the country’s wheat production is forecast to be 72.5 million tons, but government stocks were low which may mean 3 million tons of imports are needed in the 2007/08 crop year.
Looking at other commodities, the attache said that assuming there are normal weather conditions, rice production is expected to remain static at around 91 million tons in the 2007/08 time frame, which should be adequate to meet domestic demand and allow for exports of 3 to 4 million tons.
Although the import duty on corn has been temporarily removed, large-scale imports are not likely due to higher world prices compared to domestic prices.
In a separate report, U.S. officials noted that on 9 February the Ministry of Commerce and Industry imposed a ban on the export of certain milk and milk products.
“The ban will continue until 30 September 2007 with the purpose of ensuring the availability of milk products during the lean season (March to August) and to contain a domestic price rise,” the report said.
Attache reports are not official USDA data.
To see the full report, visit the USDA’s Foreign Agricultural Service Web site at http://www.fas.usda.gov/scriptsw/attacherep/default.asp.
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First Published: Tue, Feb 27 2007. 09 35 AM IST
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