We Had An Indian Last Night

Very nice it was too, special mixed Kashmiri Rogan Josh if you're asking. Ordered an extra portion of pilau and a naan whilst they still had any left.

Our chums at Dow Jones are carrying an interesting story today, in which they quote the Indian finance minister as saying:

"We are starting the year with good buffer stocks. The normal buffer stock for wheat is 4 million (metric) tons and for rice it is 5.2 million tons.

Excluding the 9.2 million tons of buffer stocks, India has another 3 million tons of wheat and 2 million tons of rice in strategic reserves, the minister added."

That makes 7 MMT of wheat and 7.2 MMT of rice on hand. Hardly bumper stocks by my reckoning in a country that consumes 6.5 MMT of wheat and 7.7 MMT of rice a month.

Reuters yesterday said that Indian wheat and rice stocks were 33 MMT and 19.6 MMT respectively at the end of July.

Quite a disparity, we'd better hope it's the latter not the former that's true.