The Indian government is on a wheat buying mission. Officials said India will buy a record amount of the commodity to increase stockpiles even as the world price of wheat has skyrocketed.

Officials disclosed that India's State Trading Corp will buy wheat in shipments of 25,000-75,000 tonnes each for delivery between October and December.

The tender for wheat closes on 29 August and STC will decide on how much to import by 3 September. India may receive wheat offers of $375-400 per tonne in the new tender.

STC bought 511,000 tonnes of wheat from US-based Cargill Inc., Germany-based Toepfer International and Pakistan-based Riaz Trading Co. Pvt. Ltd for a record $317-$330 (Rs 12,807-13,332 then) a tonne on 10 July to ensure sufficient supplies and curb inflation.

India is the world's second biggest wheat consumer after China. Official said wheat purchases may extend gains in Chicago prices of the grain. Unfavourable weather has damaged the crop among major producers, including Australia, Europe, Russia and Ukraine.

Global wheat inventories are expected to fall to 114.8 million tonnes by 31 May - the lowest in 26 years, according to the US department of agriculture.