India: Grain and Feed Update

FAS New Delhi (Post) is lowering its India market year (MY) 2022/2023 (April-March) wheat production forecast to 99 million metric tons (MMT) compared to the pre-harvest forecast of 110 MMT. The MY 2022/2023 wheat exports forecast is lowered to 6 MMT and ending stocks to 8.5 MMT due to tightening supplies. The Indian government has lowered the allocation of wheat, replacing it with additional rice volume, under its various domestic food security programs from May 2022 onwards. The MY 2021/2022 rice consumption estimate is raised to 109.5 MMT and ending stocks lowered to 36 MMT. The MY 2021/2022 rice and corn production estimates are raised based on the latest official estimates. Post's Production-Supply-Distribution (PSD) tables are adjusted to reflect the new estimates.