China is set to import record volumes of wheat this year, trading sources say, with rain damage to its crop and worries over dry weather in exporting nations fuelling Beijing's appetite to buy while prices are low.
Wheat imports grew four times in the first quarter of this fiscal year as businesses showed an interest in tapping into reduced international prices of the second most-consumed grain in Bangladesh.
Bangladesh’s wheat imports fell for the third consecutive year, suffered by falling consumption for high prices and banks’ sluggishness in opening letters of credit (LCs) amid the US dollar crisis, importers said yesterday.
Wheat imports by the private sector have continued to remain low in Bangladesh than the last fiscal year as businesses are facing persisting difficulties in opening letters of credits owing to the dollar shortage at banks.
Russia and Ukraine have become major sources of wheat for Bangladesh after India’s ban of its shipment, thanks to a United Nations and Turkey brokered grain deal that allowed moving the cereal from Ukraine over the Black Sea.
Around 52,500 tonnes of wheat reached the outer anchorage of Chattogram Port through a cargo ship called Magnum Fortune on November 9.
Bangladesh has conveyed that it will need to import at least 6.2 million tonnes of wheat from India in the current fiscal (2022-23).
Russia has already given offer to export two lakh metric tons of wheat to Bangladesh, Food Minister Sadhan Chandra Majumder told the parliament today (June 23, 2022).
India has exported 1.5 lakh tonnes of wheat to Bangladesh since the country restricted the export of the grain on May 13, according to the Indian Food Secretary Sudhanshu Pandey.
China is set to import record volumes of wheat this year, trading sources say, with rain damage to its crop and worries over dry weather in exporting nations fuelling Beijing's appetite to buy while prices are low.
Wheat imports grew four times in the first quarter of this fiscal year as businesses showed an interest in tapping into reduced international prices of the second most-consumed grain in Bangladesh.
Bangladesh’s wheat imports fell for the third consecutive year, suffered by falling consumption for high prices and banks’ sluggishness in opening letters of credit (LCs) amid the US dollar crisis, importers said yesterday.
Wheat imports by the private sector have continued to remain low in Bangladesh than the last fiscal year as businesses are facing persisting difficulties in opening letters of credits owing to the dollar shortage at banks.
Russia and Ukraine have become major sources of wheat for Bangladesh after India’s ban of its shipment, thanks to a United Nations and Turkey brokered grain deal that allowed moving the cereal from Ukraine over the Black Sea.
Around 52,500 tonnes of wheat reached the outer anchorage of Chattogram Port through a cargo ship called Magnum Fortune on November 9.
Bangladesh has conveyed that it will need to import at least 6.2 million tonnes of wheat from India in the current fiscal (2022-23).
Russia has already given offer to export two lakh metric tons of wheat to Bangladesh, Food Minister Sadhan Chandra Majumder told the parliament today (June 23, 2022).
India has exported 1.5 lakh tonnes of wheat to Bangladesh since the country restricted the export of the grain on May 13, according to the Indian Food Secretary Sudhanshu Pandey.
India is likely to approve the export of one million tonnes of wheat with half of it to Bangladesh, for the first time since imposing restriction on supplies of the food grain abroad.
