India, currently a big wheat seller in the global market, could gain from the firm trend in prices of the cereal, triggered by the concerns over severe cold snap affecting the US crop and large purchases made by African countries
State trading entities – MMTC, STC and PEC Ltd – have offered to sell a total of nearly 8.3 lakh tonnes of wheat. Tenders for the sales expected to be decided over the next 17 days.“India should exploit the current situation to get the maximum price for its wheat. There is a case for upward revision of the floor price for exports,” said trade sources.
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