It is now your daily staple of wheat is bringing in better relations between India and Pakistan these days.
Indian traders have booked more than 30,000 tonne of wheat from the neighbouring Pakistan.
India's importers are now waiting for the government's permits. The approval is expected soon, and many believe the huge quantity of wheat export order from India has suddenly created a thaw in the relations between the countries.
Wheat traders in India said at least between 10,000 tonne and 12,000 tonne of the food grain have been already imported for deliveries in three ports of Tuticorin, Mumbai and Chennai including around 6,000 tonne in Mumbai alone.
"Once the government permit comes, we will take the deliveries of the Pakistan wheat," said Sugath Shah, a wheat merchant in Mumbai.
Wheat exports for Mumbai delivery are being contracted around at $222 per tonne with cost and freight, those at Tuticorin port are being finalised at $234 per tonne and for Chennai port average prices are tagged at $235 per tonne.
It is expected that once the import permits come, Indian traders would import 150,000 tonne of Pakistani wheat export.
Pakistan's Economic Coordination Committee in December 2006 had allowed private traders the export of 500,000 tonne of wheat on hope of bumper crop this season. Later, the quantity of the commodity meant for export was enhanced to 800,000 tonne by June 2007.
India has remained a good market destination for Pakistani wheat because of minimum transportation cost and risk involved. India traders are scouting for Pakistan wheat as it is known for high protein and gluten content.
The estimated wheat production in India in 2007 is 73.7 mt, which is 6.2% higher over last year's final estimates of 69.35 mt. But India has allowed import of wheat because the country is the largest consumer of the food grain in the world.