MUMBAI (Commodity Online): South Indian flour mills are all set to benefit from the lower cost of global wheat as around 100000 metric tonnes are likely to be on Southern coast from Australia.

As compared to domestic wheat, Australian wheat is not only cheap but also bears best quality, said a trader.

Industry officials said Australian Prime Wheat costs about Rs1, 550 per 100 kilograms in the southern state of Karnataka while wheat of comparable quality grown locally would cost Rs1, 700- Rs1, 900.

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According to him, 2,000-3,000 wheat laden containers are likely to arrive in India in the next couple of months. However, some industry officials in the north are skeptical about the viability of importing wheat in containers.

The central with healthy wheat stocks at 26.8 million metric tons as on Nov. 1, is unlikely to import the grain but a shortfall in the open market is forcing private millers to import.