India expects to harvest a record 112.7 MMT of wheat this year, the country’s ag ministry said, despite lower yields due to torrential rains and hailstorms. That would be up 5 MMT (4.6%) from last year’s crop. Despite the expected rise in output, India is likely to keep a ban on wheat exports as it seeks to replenish state reserves and bring down domestic prices.
India raised its rice production estimate for 2022-23 to a record 135.5 MMT from an earlier estimate of 130.8 MMT. India banned overseas shipments of broken rice and imposed a 20% duty on exports of various other grades in September 2022. The government on Wednesday said New Dehi could consider supplying broken rice to other countries only through diplomatic channels.
