An Iranian delegation is in India to finalize a deal to import wheat to Iran, Indian media report.
Press Trust of India reports that Iran has not imported Indian wheat since 1996 because the grain contained a fungal disease called “karnal bunt”.
PTI quoted a senior government official saying: “The Iranian delegation is here to take forward the talks. If they agree to our proposal, hopefully the wheat export deal will be finalized this week itself for initial two lakh tonnes.”
An Indian delegation travelled to Iran earlier this month to discuss the terms of the wheat exports and discuss the quality guidelines.
The PTI report indicates that India has offered Iran wheat at $340 a tonne with a karnal bunt tolerance of 25 percent, shipped from the Kandla and Mundra ports.
Iran reportedly took samples and responded in favour of the deal, expressing interest in importing Indian wheat on a long-term basis.
India is looking for a global market for its surplus wheat stocks, and Iran, faced with U.S. and EU sanctions, is trying to increase trade with India to overcome those restrictions.