India: Grain and Feed Update

The early advance of the southwest monsoon and sufficient well-spread rains through July across the country have supported a significantly faster pace of sowing (18 percent increase over last year) of kharif (fall harvested) grain crops (rice, corn, other coarse grains and pulses). The MY 2019/20 rice export estimate has been raised to 11.5 million metric tons (MMT), and the MY 2020/21 export forecast is also higher at 12 MMT on strong export demand due to highly competitive prices of Indian rice compared to other origins, and ‘more-than-sufficient’ domestic supplies. MY 2019/20 and 20/21 rice ending stocks have been revised lower to 34 MMT and 36 MMT, respectively. MY2019/20 wheat ending stocks have been raised higher to 24.7 MMT based on official estimates.

India: Grain and Feed Update