Wheat From India Seen Shunned as State-Set Price Deters

India, the world’s second-biggest producer of wheat, may fail to boost exports from state stockpiles to make room for a near-record harvest after the government set a price higher than other global shippers.

Wheat from state inventories is 15 percent more expensive than U.S. supplies on a free-on-board basis and at least 24 percent costlier than Russian and Ukrainian grain, according to Tejinder Narang, an adviser with Emmsons International Ltd., a New Delhi-based trader. The government will need to lower prices to boost exports, he said.