Ukraine remains the main supplier of wheat in India
According to the information Agency APK-inform, Ukraine in the current season remained in the composition of the major suppliers of wheat in India, which included at the end of season 2016/17.
IN 2016/17 MG India was the main buyer of Ukrainian wheat and purchased 2.9 million tonnes of grain, which accounted for 49% of the total import of wheat into the country. In the first half of the current season, India dropped to 8 place in the list of major importers by purchasing only 500 thousand tons of wheat, accounting for 20% of the projected imports of the country in the season 2017/18.
According to the January USDA forecast, in 2017/18 MG India imports 2.5 million tonnes of wheat, 2.4 times lower than in the previous season to 5.9 million tonnes due to growth of 13% own production of grain and increasing to 20% import duties.
Considering the above factors, analysts predict a gradual reduction in supplies of Ukrainian wheat in India in the second half of the current season. The reduction in demand from main importer of wheat, in turn, significantly affect the price.