India: Grain and Feed Update
The MY 2016/17 wheat production forecast is revised lower to 87 million metric tons (MMT) based on continued tight domestic market supplies. The MY 2016/17 consumption forecast is revised lower to 89.6 MMT and ending stocks to 10 MMT. MY 2015/16 rice ending stocks have been raised higher to 18.4 MMT on higher government rice stocks. MY 2016/17 rice exports raised to 10.5 MMT on steady export demand.
