India's grain mountain grows despite push for exports

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A dumper unloads wheat as a crane loads onto a cargo ship at the Mundra port in Gujarat September 24, 2012. (Reuters) A dumper unloads wheat as a crane loads onto a cargo ship at the Mundra port in Gujarat September 24, 2012. (Reuters)
SummaryIndian farmers will begin to harvest sixth consecutive wheat crop expected to exceed demand.

small fraction of the global trade of 140 million tonnes, shipments from the South Asian nation have already helped ease tight supply of lower quality grains.

The latest tender for Indian government wheat was awarded at $312 per tonne. Australian supplies, which are higher quality varieties, typically cost $20-40 per tonne more, traders said.

India has little competition right now for its wheat, which is bought by Thailand, South Korea and Taiwan as animal feed while some southeast Asia countries blend it with milling wheat to bring the cost down.

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