New Delhi: About 2,500 tonnes of wheat from Pakistan reached Indian shores on 25 April and the consignments have been send for quality tests, flour millers said.
“We look forward to import more from Pakistan as rising rupee has made imports from Pakistan attractive,” S. Pramod Kumar of Roller Flour Millers Federation of India, said.
The Indian rupee strengthened past 41 per dollar for the first time in nine years on 25 April, buoyed by robust capital inflows and as exporters hedged against further appreciation.
The wheat, which arrived at the southern Indian port of Tuticorin, is bought at $232 (Rs9,414) a tonne on cost and freight basis, Kumar said.
Indian grain traders have contracted to import 20,000 tonne of Pakistani wheat, Vijay Iyengar, managing director of Agrocorp International Pte. Ltd, said earlier this month. There is a possibility of up to 150,000 tonne of Pakistani wheat coming to India, he said.