India Wheat Latest

Posted by Nogger - a legend in his own mind at 12:32 | Categorized as

21/02/13 -- The USDA attaché in Dehli estimates the upcoming Indian wheat crop at 92.0 MMT, slightly lower than the local Ag Ministry's 92.3 MMT forecast and down 3% on last year's record 94.9 MMT.

Even so, that's well above domestic consumption levels. Given 2012/13 ending stocks projected at 23.8 MMT (well above the government's recommended minimum buffer of 7.0 MMT) then it looks like India will continue to be a force to be reckoned with on the international export stage for at least another year yet.

The attaché forecasts 2013/14 wheat exports at 8.0 MMT, of which 5.0 MMT will be come from government stocks and 3.0 MMT will private sales. The USDA currently have India down to export 6.5 MMT of wheat in the current 2012/13 season.