Country\\\'s wheat import target for FY \\\'14 may be fulfilled

The government is optimistic about achieving its wheat import target during the current fiscal year (FY) 2013-14 due to its lower price in the international market compared to the previous year, a high food official said.
"We will be able to fulfil our wheat import target during the current fiscal due to competitive prices in the international market," a joint secretary of the ministry of commerce told the FE Thursday.  Prices of per metric tonne of wheat was sold at US $ 279 in Russia while in Ukraine $ 276.5 and the United States $264.37 last week.
In Russia it was $ 365 while in Ukraine $350 and in the US $ 304 in February 2013, according to data available at the ministry of food.     
Earlier the government set a target to import 0.85 million tonnes of wheat from different countries through inviting international tender (ICT) during the current FY.
Out of the target, 0.2 million tonnes of wheat from Ukraine under government to government (G2G) arrangement and 4,79,000 tonnes through international tender have arrived  in the country.
The rest of the wheat will arrive within the set timeframe of the government.
"We have completed 13 international commercial tenders for importing the rest of the wheat. We hope that we will be able to fulfil our import target by May or June," a joint secretary of the ministry of food told the FE Thursday.
The government had set the target to import around 0.8 million tonnes of wheat for the last FY. It was able to import 4,65,420 tonnes due to price volatility in the international market.
Besides, some international bidders have failed to follow the government criteria resulting in not fulfilling the import target during the last FY, sources said.