NewStats: 3,261,596 , 8,174,458 topics. Date: Thursday, 29 May 2025 at 06:06 PM 4s441z

India is negotiating discounted imports of wheat with Russia amid sharp rise of global prices, which is a rare step aimed at increasing the supplies and curbing food inflation before next year’s elections in India.


"The imports would allow New Delhi to intervene more effectively in the market to drive down wheat prices that stoked inflation to a 15-month high in July," the agency reports.

"The government is exploring the possibility of imports through private trade and government-to-government deals. The decision will be made cautiously," revealed one of the sources of Reuters, responding to a question about import of wheat from Russia.

India has not made diplomatic agreements for import of wheat for many years. The last time that India imported a significant amount of wheat was in 2017 when private traders unloaded 5.3 million metric tonnes of the grain.

The Indian government’s plan to import Russian wheat is one of the measures that are being considered for reducing the prices of key goods, such as fuel and grains, as stated by anonymous sources.

Reportedly, the final decision may be made in a few weeks. The representatives of the Ministry of Finances and Trade and of the government of India have not replied to emails and messages requesting to comment on the situation.

"Although India needs only 3 million to 4 million metric tons of wheat to plug the shortfall, New Delhi might consider importing 8 million to 9 million tons of wheat from Russia to have a far bigger impact on prices," another source explained.

Since the beginning of the war in Ukraine last year, Russia became the second largest supplier of goods to India, mainly thanks to discounts on the oil purchased by New-Delhi.

"Russia has indicated its willingness to offer a discount on prevailing market prices. There are no restrictions on the export of food commodities from Russia," one of the anonymous officials stated.

The same official added that India is also importing sunflower oil from Russia, is conducting transactions in dollars and plans to continue using this approach.

"India can easily secure a discount of $25 to $40 per ton from Russia. This will ensure that the landed cost of wheat remains significantly below local prices," a Mumbai-based dealer representing an international trading house stated.

Wholesale prices of wheat have increased by approximately 10% in two months and reached their seven-months maximum in August amid limited supply.

As of 1 August, 28.3 million tonnes of wheat were stored at the state storages, which is 20% below the average 10-year index.

https://www.pravda.com.ua/eng/news/2023/08/17/7415973/index.amp

India is just getting cheap stuff
Talk of taking advantage

Putin 1, India 1 and allied forces Zero

Let dem come Nigeria na...

Bet wot can we export right now self as a country...

Amidst war

Yankee101:
India is just getting cheap stuff
Talk of taking advantage

The prominent Asian countries are characterized to do so.

AngelicBeing:
Putin 1, India 1 and allied forces Zero

There is no such things...everyone gets to loose in every warfare.

AngelicBeing:
Hmmmmmm, I am just been sarcastic, l know

Fixed...my bad ...


Wittyness

Good for them. Nigeria, where art thou?

Only loan our leaders Sabi collect nothing more, I rest my case.

Ok

It’s time Nigeria starts to take advantage. Cheap oil and cheap grains go help our country. Nigeria first.

BigDawsNet:
Let dem come Nigeria na...

Bet wot can we export right now self as a country...

Your government will Neva think like this, they never think of something that will help to ameliorate the plight and improve the welfare of the people.

wittywriter:

The prominent Asian countries are characterized to do so.


There is no such things...everyone gets to loose in every warfare.



Wittyness

Hmmmmmm, I am just been sarcastic, l know

And Russia will still have to trade with the collapsed Ruble 🤣🤣🤣🤣

A big win for India!

VeeVeeMyLuv:

Your government will Neva think like this, they never think of something that will help to ameliorate the plight and improve the welfare of the people.

Omo... when buhari closed the southwest border.. I thought we were ready to start exporting... but nothing happened...
As a country... we need to export to help our economy

Nice one from India….. Very sharp…..

BigDawsNet:


Omo... when buhari closed the southwest border.. I thought we were ready to start exporting... but nothing happened...
As a country... we need to export to help our economy

They have lost faith in the country they are ruling, they don't believe in the country.
They don't give a damn

They are not ionate or enthusiastic about their work.

BigDawsNet:
Let dem come Nigeria na...

Bet wot can we export right now self as a country...

even our crude oil is taking freely by Britain via pipeline put into place in 1955,then they conducted sham election that will produce good boys who will help them secure their pipeline at brass

While we busy discussing how to restore democracy in niger.

Indian inflation is 7.5 percent and they are concerned, while so called giant with 25 percent inflation is not concerned.

Talk about priorities

engrchykae:
even our crude oil is taking freely by Britain via pipeline put into place in 1955,then they conducted sham election that will produce good boys who will help them secure their pipeline at brass

Nigeria is actually like a project scam... the only people that can take it back is the people

India strategically dealing with hunger.

BigDawsNet:


Nigeria is actually like a project scam... the only people that can take it back is the people

the word "project"
Do you know that in lord lugard diary,he said the "the Igbo is industrious but hates constituted authority and is a threat to her majesty's"project Nigeria "
Project Nigeria is an interest of Britain.
It's not for Nigerians as a people.

engrchykae:
the word "project"
Do you know that in lord lugard diary,he said the "the Igbo is industrious but hates constituted authority and is a threat to her majesty's"project Nigeria "
Project Nigeria is an interest of Britain.
It's not for Nigerians as a people.

So indirectly we are under the foreign rules...

One day... the citizens will wake up sha... maynot be our own generation I guess... but it won't continue to be like dis

✅

BigDawsNet:


So indirectly we are under the foreign rules...

One day... the citizens will wake up sha... maynot be our own generation I guess... but it won't continue to be like dis

yes we are.
But this our generation will break lose

Indians and China always on the lookout for awoof

This new deal will further batter the ailing Russian economy...lmao. Already, the black sea is currently becoming dangerous for the shipping of Russian wheat because of the presence of Ukrainian marine kamikaze drones. This new initiative will make Russia poorer....

engrchykae:
yes we are.
But this our generation will break lose

You sure? This ticktok and skit generation?

At the end of the day, India benefitted most from this war.

Need a house on the mainland? I'm your surest plug. Check my Nairaland thread

https://nairaland.unblockandhide.com/7776903/properties-rent-chidinma#124779435

God bless baba Putin