India: Grain and Feed Annual

India is heading for a fourth consecutive record wheat harvest, with marketing year (MY) 2020/21 (April/March) production forecast at 105 million metric tons (MMT). MY 2020/21 rice production is forecast at a near record 117 MMT with average yields. Back-to-back record harvests and government procurements have inflated MY 2019/20 wheat and rice stocks to more than three times desired levels. The Government of India (GOI) is likely to release additional wheat and rice at subsidized prices in CY 2020 and 2021 to reduce stocks to manageable levels. Indian wheat remains uncompetitive in the international market, but exports in MY 2020/21 are forecast higher at 1 MMT on expected higher sales to neighboring countries. Rice exports in MY 2020/21 are forecast to recover to 12 MMT on higher exportable supplies. MY 2020/21 coarse grain consumption is forecast at 45.8 MMT stagnant over last year on weak demand from the poultry sector, which has been hit by fake news that poultry products can transmit Covid-19.

India: Grain and Feed Annual