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India’s wheat export is picking up pace in the last few months and also fetching good returns in the international market. The government is hopeful of ending FY13 with 20 million tonnes in stocks, same as the last year, despite a 9.8 million tonnes rise in procurement. This has removed the fears of huge losses that would have occurred as over 6 million tonnes of surplus wheat, which is stored in unscientific places from June. Further, the government is also focusing on to build the international brand of Indian wheat in the global markets by continuously exporting it.
Wheat prices in the world markets started firming up from August onwards because of drought in the United States, the world’s largest exporter and also low production in Australia, Ukraine, Russia and Argentina. On the back of strong response garnered by Indian wheat in global markets, the government is focusing on the idea of regularly exporting wheat from the central pool to build the Indian wheat as a brand in the global market. Off the 22 tenders floated by India to export 2 million tonnes of wheat from central pool since August, all of them, barring one fetched a price of over $300 per tonnes - the highest price of $324 per tonne.
The average price fetched by the wheat exported by government has been around $313 per tonne as against a base price of $228 per tonne. India has managed to export almost all the wheat from the central pool at a price which is more than $300 per tonne. This clearly shows that Indian wheat is slowly commanding a premium in the international markets because of low global wheat production. High international prices for wheat export will enable the government to decrease export subsidy on wheat to less than Rs 500 crore in 2012-13.
On Nov 30, the government has agreed to allow export of another 2.5 million tonnes of wheat from the central pool over the already cleared 2.0 million tonnes of wheat export. Total 4.5 million tonnes of wheat will be exported from the central pool. The government should continue to export wheat from central stocks in small tranches which would establish India as a reliable player in the global grain market. However the government has also decided to offload around 7 million tonnes of wheat and rice in the domestic market.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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