India’s Rice Stocks Scale Record High, Wheat At Four-Year Peak

India’s rice reserves in government warehouses surged more than 14% year-on-year to an all-time high for early September, while wheat inventories climbed to a four-year peak on the back of stronger farmer procurement, official data showed on Wednesday.

The bumper rice stockpile is expected to support higher exports by the world’s largest supplier, while the wheat buffer gives the government scope to prevent price spikes later this year through open market sales.

As of September 1, state-held rice reserves, including unmilled paddy, stood at a record 48.2 million metric tons, far above the government’s July 1 target of 13.5 million tons. Wheat inventories reached 33.3 million tons, comfortably exceeding the target of 27.6 million tons.

“Rice exports are rising. India is set to ship a record volume this year, but stocks remain high due to last year’s bumper harvest,” said a New Delhi-based dealer with a global trading firm.

India, which supplies about 40% of the world’s rice, lifted the last of its export restrictions in March 2025. The Rice Exporters Association expects shipments to jump nearly 25% year-on-year to a record 22.5 million tons in 2025.

However, with the new paddy harvest set to arrive next month, government agencies could face storage challenges, the dealer warned.

Tags: unmilled paddy, exports, rice, wheat, India, shipments, reserves