India: Hmmmmmm

With monsoon rains as much as 60% down in some parts of the country, summer rice acreage is expected to be 15% lower, according to the Indian farm minister.

It would seem that the government are dragging their heels somewhat on their promise to release 3 MMT of wheat and 2.5 MMT of rice onto the domestic market.

They have also today said that they will release 3 MMT of subsidized sugar "by October".

Now my question is why would they be so slow on releasing state owned stocks?

It wouldn't be that they know that their backs are up against the wall, and in reality they haven't got enough wheat to see them through to the next harvest would it?

They don't want to come out & admit it ahead of the impending state assembly elections, but neither do they want to release stock that they know they are really going to need in a few months time.

Sound plausible?

PS when are the state assembly elections pencilled in for? Take a wild guess. Go on, it begins with an "O".