India Seeks More Wheat
Government wants more supply than offered in offered in a recent tender, meanwhile the Philippines seeks to buy U.S. rice.
Compiled by staff
Published: Sep 3, 2007
In the heat of a rising wheat market, India says it wants more product than suppliers offered in a recent tender, according to a Dow Jones report. An official told the wire service that with prices rising so fast, it makes sense for the government to acquire as much wheat through this tender as possible.
While 530,000 metric tons were offered in the tender, the government may be looking for as much as 700,000 tons or more. That will depend on the price viability of the offers, the official says. The government has only been purchasing wheat offered through bulk shipments, but it's possible it could start accepting wheat in containers. This broadens the source of supply for the tender.
Meanwhile, the Philippines is now apparently aiming to buy rice from the United States to boost local stocks. An auction to buy about 60,000 metric tons from the U.S. is scheduled for this month. The government is insisting that the rice be biotech free.
However, plans to import U.S. rice have stumbled in the past because suppliers aren't willing to undertake a test that would keep out genetically modified strains. The National Food Authority in the Philippines has already conducted two failed auctions since late last year in a bid to buy U.S. rice. The Philippines, so far, has gotten most of its rice imports from Viet Nam.
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