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Market News
India in touch with Turkish authorities on wheat consignment rejection: Food Secretary.
Jun 03, 2022
Amid reports of Turkey rejecting an Indian wheat consignment on quality concerns, Food Secretary Sudhanshu Pandey on Thursday said the government has sought details from the Turkish authorities on the matter as the concerned exporter ITC Ltd NSE 0.11 % has claimed that the shipment of 60,000 tonnes had all the required clearances. Meanwhile, after India banned wheat exports on May 13, the secretary said five-six countries have requested for Indian wheat and the government has formed a committee to clear the grain for export to such nations.
'Some decisions have happened,' he added.
He also said retail wheat prices are showing a declining trend after the export restrictions were imposed.
Asked about Turkey rejecting the Indian wheat consignment on phytosanitary concerns, Pandey told reporters: 'We checked up on this report. It was ITC and it met all the requirement of the quality.'
The consignment had around 60,000 tonnes of wheat, he said.
ITC, a major wheat exporter, has informed the government that it had sold the wheat to a Geneva-based company, which further sold the commodity to a Turkish firm. All financial transactions had happened, Pandey said.
'Before payment, all local clearances must have been done. Quarantine had happened in India also. This is what the company has told us. ...Their financial transaction...including Turkish importer was complete,' he added.
The secretary further said the Agriculture Department and agri-export promotion body APEDA have got in touch with the Turkish quarantine authorities on this issue.
'They have not heard anything from them. There is no formal communication as yet,' he noted.
India banned wheat exports on May 13 to keep local prices under control amid a slight estimated fall in domestic output. However, it allowed shipment of those consignments which were registered before the ban came into force.
economictimes.indiatimes.com
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