India: Grain and Feed Update - January 2022

  |   Attaché Report (GAIN)   |   IN2022-0002

On November 24, 2021, the Indian government approved the extension of the additional free food grains scheme through March 31, 2022. With this extension, an additional 16 million metric tons (MMT) of grains will be released from government stocks. FAS New Delhi (Post) is raising the market year (MY) 2021/2022 consumption estimate to 100.3 MMT on the expected higher offtake of wheat under the free food grains scheme. Post's MY 2021/2022 wheat exports estimate is raised to 6.5 MMT due to strong export demand combined with competitive Indian wheat prices in the neighboring markets. Post's MY 2021/2022 wheat ending stocks number is revised lower to 23 million metric tons.

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