China and India fight on feed wheat sales

Introduction: China's sale of feed wheat at competitive prices is likely to take some of its customers in South Korea and the Philippines away from India, the Asian grain trader said Monday Traders added that China has conducted a series of wheat sales to South Korea and the Philippines in recent months, the first time in more than three years that China has done such a business At present, India is facing fierce competition in China's shipping wheat sales in August, September and October According to a Singapore trader, the Philippines is now very keen on Chinese feed wheat for August shipment, and South Korea is also interested in Chinese wheat, perhaps for October shipment But any more purchases will depend on how much feed wheat China can provide, he added China's offer is quite attractive At present, China has goods to sell Grain traders in Asia say South Korea is buying Chinese feed wheat at CNF prices of $105 to $107 a tonne, while the Philippines has bought Chinese wheat at CNF prices of $115 a tonne At present, the CNF price of Indian wheat in Southeast Asia is US $120 per ton Another Singaporean trader said the amount of wheat purchased from India had been decreasing in the past few weeks We expect this trend to continue unless India lowers prices Traders say India's wheat exports have been plagued by quality problems recently, which has led Iraq to refuse to accept several shipments of Indian wheat, and Indian wheat prices are not competitive But Indian traders are hopeful that wheat sales will start to pick up Earlier this month, India's Food Minister said the government was considering a request by grain traders to reduce the price of wheat for export An Asian grain trader said Asian Importers are aware that China's wheat supply will not last for a long time because of weather problems in China As a result, suppliers are selling Chinese wheat as much as possible before any price incentives are announced in India According to the State Food Information Center of China, China's winter wheat output is expected to reach 87 million tons in 2001, down 7.1 percentage points from last year, accounting for almost all of China's total wheat output The quality of wheat in India has attracted the attention of other Asian countries A Singaporean trader said suppliers expect several batches of Indian wheat to be sold to Indonesia, but the reports on the quality of Indian wheat these days are not encouraging A trader in Jakarta added that it would take a long time to clean Indian wheat goods We will seek supplies elsewhere Bogasari flour mill, Indonesia's largest wheat importer and processor, said a week ago that it had stopped buying Indian wheat for quality reasons, but that if the quality of wheat improved, it would not rule out future purchases 'we expect Vietnam to have some enquiries for wheat because the international price of wheat is a little bit lower now, but the quantity will not be large,' said one trader Traders say importers from countries such as Malaysia are negotiating to buy some recent shipments of wheat because they expect the wheat market to be strong due to poor weather in the major wheat producing countries One trader said some buyers were trying to buy as much as possible, especially after the recent strong rise in wheat prices There's no reason to wait any longer Who knows what the future holds? Maybe it will go up in the future We all know that the world's wheat stocks are decreasing Last Friday, CBOT wheat futures closed lower as profit closing stocks surged and prices weakened after recent gains related to funds and weather Calm exports also put pressure on wheat prices.