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Indian wheat exports in 2013 could reach 3 million tonnes, says official
Economic Times ^ | 28 Nov, 2012, 09.57AM IST

Posted on 11/28/2012 5:46:52 AM PST by DeaconBenjamin

SINGAPORE: Exports of wheat by India, the world's second-largest producer, could reach 3 million tonnes from government stocks in 2013, an official of a state-run trading firm said on Wednesday, adding that the country had sold 1 million tonnes since April.

Traders expect wheat shipments from India to rise as a potent combination of dry weather in the United States and drought in the Black Sea region hurts global supplies.

"Initially the government has set a limit of 2 million tonnes for wheat exports, but I think the exports will continue to go much higher," the official told reporters at an industry conference in Singapore.

"We should easily be able to contract up to 3 million tonnes in 2013, as there is strong demand and supplies from the Black Sea region have slowed," said the official, who declined to be named because he is not authorised to speak to the media.

Since supplies from Russia and Ukraine have fallen, India has been selling wheat in key markets such as the Middle East, Africa and Southeast Asia.

BUMPER CROP

India looks likely to harvest a bumper crop of wheat in 2013, its sixth in a row to exceed demand, after late monsoon rains replenished soil moisture, strengthening prospects for exports for a second year.

"The outlook for the crop looks good and we have more than 40 million tonnes in stocks, so the export programme will continue," the official said.

"We will offer wheat from new crop for exports as it is much easier to buy from farmers and sell it directly to trading companies," he added.

Subsidies gave state-run firms an edge in wheat exports over private firms, which found it hard to make a profit, he said.

"We are getting a subsidy of $40 to $50 a tonne to export wheat," he said.

Wheat futures have given up more than 8 percent since hitting a four-year high of $9.47-1/4 a bushel in July, although it is poised for a rebound on prospects of lower global supplies next year.


TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS:

1 posted on 11/28/2012 5:47:01 AM PST by DeaconBenjamin
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To: DeaconBenjamin

India is a wheat exporter...I’ll be danged. Thirty years ago, with 40%-50% of the population, they were starving.

Go figure.


2 posted on 11/28/2012 5:49:48 AM PST by henkster ("The people who count the votes decide everything." -Joseph Stalin)
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To: henkster

Yeah, that’s what struck me. Due largely to improvements in agriculture created by evil agribusiness, and to India moving away from its socialist tradition.

IOW, if liberals had their way, India would still be starving.


3 posted on 11/28/2012 5:54:34 AM PST by Sherman Logan
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To: DeaconBenjamin

Another exhibit for the “Paul Ehrlich is ALWAYS Wrong” pile.
India is a net exporter of food. In the 70’s he predicted they’d all starve to death by 1985.


4 posted on 11/28/2012 5:58:21 AM PST by Buckeye McFrog
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To: henkster; Sherman Logan

Meet Norman Borlaug, one of the few people in history who actually earned their Nobel Peace Prize...

http://en.wikipedia.org/wiki/Norman_Borlaug


5 posted on 11/28/2012 6:00:47 AM PST by JoeDetweiler
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To: henkster
India is a wheat exporter...I’ll be danged. Thirty years ago, with 40%-50% of the population, they were starving.

Dude, stop getting your facts fom Paul Erlich. In The Population Bomb (1968), he predicted India was Doomed, Doomed, I sez.

Ehrlich writes: "I don't see how India could possibly feed two hundred million more people by 1980."[5] This view was widely held at the time, as another statement of his, later in the book: "I have yet to meet anyone familiar with the situation who thinks that India will be self-sufficient in food by 1971." In the book's 1971 edition, the latter prediction was removed, as the food situation in India suddenly improved.

As of 2010, India had almost 1.2 billion people, having nearly tripled its population from around 400 million in 1960. India's Total Fertility Rate in 2008 was calculated to be 2.6.[22] While the absolute numbers of malnourished children in India is high,[23] the rates of malnutrition and poverty in India have declined from approximately 90% at the time of India's independence, to less than 40% today. Ehrlich's prediction about famines were found to be false, although food security is an issue in India. However, most epidemiologists, public health physicians and demographers identify corruption as the chief cause of malnutrition, not "overpopulation".[24] As Nobel Prize winning economist Amartya Sen noted, India frequently had famines during British colonial rule. However, when India became a democracy, there have been no recorded famines.[25] - Wiki


6 posted on 11/28/2012 6:02:57 AM PST by Oztrich Boy (By doubting we come to inquiry, and through inquiry we perceive truth. -; Peter Abelard)
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To: DeaconBenjamin

In my lifetime, during my university education, liberal professors told MD India would never be able to feed itself. One professor even stated that should India pursue self determination the only solution would be the death of 95% of the population and the use of their remains to fertilize the land.

I guess they happened upon a solution he hadn’t considered


7 posted on 11/28/2012 6:03:14 AM PST by muir_redwoods (Don't fire until you see the blue of their helmets)
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To: Oztrich Boy

Dude, where did I endorse Ehrlich? What about my post was incorrect, other than maybe being off by a decade? 30-40 years ago they had far fewer people and WERE starving.


8 posted on 11/28/2012 6:10:25 AM PST by henkster ("The people who count the votes decide everything." -Joseph Stalin)
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To: Sherman Logan

Dream on. I remember being in the Seychelles in thw early 70s and seeing ships arriving with grain from India at a time when we were sending them massive food aid.

Indians were exploiting the situation by selling their production at a big profit.


9 posted on 11/28/2012 6:11:19 AM PST by slorunner
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To: JoeDetweiler
Good for you! It is amazing how few people have even heard of Norman Borlaug, easily one of the top 10 people of the 20th century.

Leftys, of course, like to ignore him not only because he was a white male devout Christian, but because his actual accomplishments put to the lie favorite leftist economic theories.

A little known factoid: India actually has more arable land that the entire United States. Even more when you consider that most of the southern half of the subcontinent can grow crops in two or more seasons.

10 posted on 11/28/2012 6:33:39 AM PST by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: DeaconBenjamin
Damn that GMO food. Damn that Monsanto. Damn that Norman Borlaug. They're all pure evil, I tell ya. Don't these people know that they're killing themselves by eating all that genetically modified wheat? They'd be much better off starving like they were 30-40 years ago.

Yeah, it's sarcasm.

11 posted on 11/28/2012 7:59:23 AM PST by Mase (Save me from the people who would save me from myself!)
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To: DeaconBenjamin

Are they exporting to America yet?

“Clean your plate, Ahmud! Think of all the starving children in America who would kill for those scraps!”


12 posted on 11/28/2012 8:10:00 AM PST by Dogbert41 (What now?)
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To: DeaconBenjamin

As long as they don’t try to sell it in the USA I don’t care. We don’t need the same low quality standards they apply to their other exports.


13 posted on 11/28/2012 8:27:38 AM PST by Wurlitzer (Nothing says "ignorance" like Islam!)
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To: henkster

Not thirty — more like 50 years ago. In the 1970s they implemented the Green Agrarian revolution and they have wheat and rice exports...


14 posted on 11/28/2012 8:46:18 AM PST by Cronos (**Marriage is about commitment, cohabitation is about convenience.**)
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To: Dogbert41

Ahmed might be the name of the kids of the 11% of Indians that are Moslem. They are 79% Hindu, 3 % Christian, 2% Sikh, then Buddhist, Jain, zoroastrian, Jewish etc.


15 posted on 11/28/2012 8:48:00 AM PST by Cronos (**Marriage is about commitment, cohabitation is about convenience.**)
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To: Vigilanteman

Norman Borlaug won India’s highest civilian honor and he saved over a billion people from starvation. That’s a saint..


16 posted on 11/28/2012 8:49:26 AM PST by Cronos (**Marriage is about commitment, cohabitation is about convenience.**)
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To: henkster
Norman Ernest Borlaug (March 25, 1914 – September 12, 2009), "The Man Who Saved A Billion Lives", was an American agronomist, humanitarian, and Nobel laureate who has been called "the father of the Green Revolution". Borlaug was one of six people to have won the Nobel Peace Prize, the Presidential Medal of Freedom and the Congressional Gold Medal. He was awarded the Padma Vibhushan, India's second highest civilian honor.

Borlaug received his Ph.D. in plant pathology and genetics from the University of Minnesota in 1942. He took up an agricultural research position in Mexico, where he developed semi-dwarf, high-yield, disease-resistant wheat varieties.

During the mid-20th century, Borlaug led the introduction of these high-yielding varieties combined with modern agricultural production techniques to Mexico, Pakistan, and India. As a result, Mexico became a net exporter of wheat by 1963. Between 1965 and 1970, wheat yields nearly doubled in Pakistan and India, greatly improving the food security in those nations. These collective increases in yield have been labeled the Green Revolution, and Borlaug is often credited with saving over a billion people worldwide from starvation. He was awarded the Nobel Peace Prize in 1970 in recognition of his contributions to world peace through increasing food supply.

17 posted on 11/28/2012 8:55:14 AM PST by DeaconBenjamin (A trillion here, a trillion there, soon you're NOT talking real money)
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To: Cronos

At the time I could not think of a good Indian name. Since there ARE Indain Muslims, I decided Ahmed or whatever...


18 posted on 11/28/2012 5:26:10 PM PST by Dogbert41 (What now?)
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