India: Grain and Feed Update
On July 4, 2018, the Government of India (GOI) approved a significant increase in the minimum support prices (MSPs) for the kharif (fall harvested) crops for the 2018/19 season. A relatively weak 2018 monsoon since the third week of June has slowed the planting of most grains, including rice and corn, for the upcoming MY2018/19 kharif (fall harvested) season. With the higher MSP likely to prop up domestic prices and affect the export competitiveness of India rice, the MY 2018/19 rice export forecast is lowered to 12 MMT.
