As per official sources, Ukraine has managed to become as a key wheat supplier to the Indian market this season, running close to Australia now.
So, Ukraine exported more than 900 KMT of wheat to India in the first five months of the season. This is a historical high of Ukrainian wheat supplies to the country. Another factor that fueled last week's hike is the reduction of wheat import duty to zero by India's government. This will further stimulate purchases from abroad.
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Technical comment for the day: Gold