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The Indian food processing industry is an important driver of the country’s economic growth. It is experiencing significant development and is innovating in the field of processed and packaged foods. The sector significantly contributes to India's gross domestic product (GDP), exports, investment, and employment.

India is gearing up for a record wheat harvest in market year (MY) 2024/2025. FAS New Delhi (Post) forecasts India's wheat production at 112.5 million metric tons (MMT), thanks to the timely and record plantings of wheat, which benefitted from favorable weather conditions from the time of planting through the reproductive growth stages.

With expectations for no change in area, and assuming average yields, cotton production is forecast to decline in 2024/25. Given prospects for an increase in cotton textile exports, domestic use is forecast to increase in 2024/25.

On February 22, 2024, India’s Ministry of Fisheries, Animal Husbandry and Dairying/Department of Animal Husbandry and Dairying, issued Office Memorandum File No. L-110109(3)/1/2016-Trade (E-2625) outlining the parameters for premium frozen duck meat for import into India.

The Democratic Socialist Republic of Sri Lanka’s (Sri Lanka) Ministry of Health extended the implementation effective date of the Food (Trans Fat) Regulations (2022) from January 1, 2024 to January 1, 2025.

Despite economic challenges and high feed prices, demand for feed is expected to grow in Bangladesh as large commercial poultry farms expand their operations and some major feed producers have initiated contract poultry farming.

FAS India (New Delhi, Mumbai) (Post) is updating the earlier GAIN-INDIA | IN2020-0195 | FSSAI Publishes Regulations for Alcoholic Beverages report.

On February 29, 2024, India's Ministry of Agriculture and Farmers Welfare (MoAFW) released its Indian crop year (ICY) 2023/2024 (July-June) Second Advance Estimate. The MoAFW is forecasting grain production (excluding the summer crop) lower at 309.3 million metric tons (MMT) compared to 313.6 MMT last year on expected lower production of rice, corn, and other coarse grains, while wheat and barley production is forecast higher at new record levels.

FAS New Delhi (Post) forecasts India's market year (MY) 2024 (January-December) cattle herd at 307.42 million head, up marginally from 307.4 million head in 2023. A gradual pace of growth is likely to persist in the short- to medium-term.

On February 19, 2024, India's Ministry of Finance (MoF)/Department of Revenue issued Notification No. 10/2024-Customs in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i) (official gazette), lowering import duties levied on frozen turkey (meat) and edible offal, cranberries, and blueberries.

The Democratic Socialist Republic of Sri Lanka’s (Sri Lanka) Ministry of Health extended the implementation date of Food (Labeling and Advertising) Regulations (2022) from January 1, 2024 to January 1, 2025.

Marketing year 2023/2024 wheat production is expected to drop sharply to around three-quarters of last year’s level as a result of the June drought and excessive rains in the fall of 2023 that affected Kazakhstan’s major grain producing Northern region.