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Turkey rejects Indian durum wheat shipment on phytosanitary concerns: traders – spglobal.com


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Turkey rejects Indian durum wheat shipment on phytosanitary concerns: traders
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Vessel expected to return to Kandla port by mid-June
Indian traders concerned about vessels headed to Egypt, other nations
Indian trade ministry may clear exports up to 1 mil mt soon
Turkey rejected an Indian wheat consignment on phytosanitary concerns on May 29, traders told S&P Global Commodity Insights May 30.
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The MV Ince Akdeniz loaded with 56,877 mt of durum wheat is headed back to Kandla port in India from Iskenderun port in Turkey, according to shipping data from Kpler.
“The wheat consignment was detected with Indian Rubella disease and was rejected by the Turkish ministry of agriculture and forestry,” a trader based in Istanbul said.
The vessel is expected to return to Kandla port by mid-June, the trader added.
Turkey’s agriculture ministry did not respond to queries regarding the rejection of the consignment.
Turkey’s move comes at a time when international buyers have been looking to secure supplies of wheat, a major staple food, as supplies dwindle.
The decision has made Indian exporters anxious about the future of other wheat shipments headed to different nations, including to Egypt in the next few days.
“There were some phytosanitary concerns about the loaded wheat, so the authorities have rejected the shipment,” a Mumbai-based trader said.
India restricted wheat exports on May 13 in a move aimed at checking rising domestic prices. However, while banning exports India exempted contracts with letters of credit and has been allowing some vessels to ship in regular intervals.
India emerged as a potential global supplier for wheat exports after the Russia-Ukraine conflict took a major chunk of supplies out of the market.
Before India restricted wheat exports, traders were selling wheat around $350/mt-$380/mt. However, prices have fallen sharply since the restrictions were imposed.
India is also likely to clear exports up to 1 million mt wheat soon to different nations, multiple officials from the Indian trade ministry told S&P Global on May 27.
“Around half of the shipments are to go to Bangladesh largely by railways and roadways,” an official with the trade ministry added.
However, Indian traders are concerned about some of the shipments headed to Middle Eastern nations since Turkey rejected a consignment.
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