India: Grain and Feed Update
Link to report:
FAS New Delhi's (Post) market year (MY) 2023/2024 wheat production forecast is raised to a record 110 million metric tons (MMT) on reported higher-than-earlier expected yields despite some weather incidences. Notwithstanding the record harvest, the Indian government is unlikely to remove its existing wheat and wheat products export bans. The MY 2023/2024 consumption and ending stocks figures are raised to account for higher forecasted production. Based on India's latest official stock estimates, the MY 2022/2023 ending stock estimate is revised to 9.5 MMT. Post continues to estimate MY 2022/2023 rice production unchanged at 128 MMT based on the Indian market situation. No significant changes to report for the corn production-supply-distribution (PSD) table.
