India May Stop Buying More Wheat as Supplies Rise

Nov. 13 (Bloomberg) -- India, the world's third-biggest wheat importer last year, may refrain from purchasing more of the grain because it expects to have sufficient supplies when the new crop arrives in March.

``Prospects for the winter wheat are good and I don't think there will be more imports'' other than the amount planned last month, Agriculture Minister Sharad Pawar told reporters.

A decision by the South Asian country to hold back from making purchases may help curb world prices that have soared 64 percent in the past year after dry weather damaged crops from Canada to Australia. India bought 1.3 million tons in July and August, and in September set an output target of 75.5 million tons for next year, the most in seven years.