India to import 3-5 million tonne of wheat this year:Pawar

New Delhi, May 5 (UNI)The country is expected to import nearly 5 million tonnes of wheat, almost equal to last year's imported quantity to build up its required buffer stock for meeting any exigency, said Agriculture and Food Minister Sharad Pawar today.

State Trading Corporation, meanwhile, has extended the bidding deadline to May 21 from the earlier schedule of May 10 for a tender floated earlier this week for the import of one million tonnes of wheat.

The import is neccesary for bolstering the buffer stock and protect any state against loss of production in foodgrains because of deficit rains, Mr Pawar told mediapersons at the sidelines of a workshop on contract farming.

However, Mr Pawar took some consolation from the facts that this time buffer stock position was comfortable with 4.5 million tonnes in the kitty while during this period last year the stock was half of it.

Referring to the low arrival of wheat in market because of holding back the stocks by farmers in anticipation of better prices in near future,Mr Pawar said he would be the happiest person if the farmers got a better price.

The State Trading Corporation (STC) has already floated tenders for import of one million tonnes of wheat and has been asked by the government to expedite the import of three million tonnes of wheat.

Earlier, Mr Pawar today re-affirmed government's support to the agribusiness sector.

On Centre's initiative, majority of States have already amended their APMC Acts to allow direct transaction between buyers and sellers outside the regulated agricultural markets. Financial institutions have been permitted to fund contract farming schemes.

Taxes on processed food have been reduced. A number of Agricultural Export Promotion Zones have been established. FDI is allowed in food processing and single brand retailing, the Minister said.

The Agriculture Minister was speaking at the 'Contract Farming: Methods and Experiences' being held as part of the Indo-US Knowledge Initiative on Agriculture. The Initiative was announced in July 2005 during the visit of Prime Minister Manmohan Singh to the US. The workshop is being held to share experiences of experts and farmers of the two countries in contract farming.

UNI