USDA attache trims India 2023/24 wheat crop forecast to 106 mln T

Following are selected highlights from a report issued by the U.S. Department of Agriculture’s Foreign Agricultural Service (FAS) post in New Delhi:

“On Oct. 27, 2023, India’s Ministry of Agriculture and Farmers Welfare released Indian crop year 2023/2024 (July-June) First Advance Estimate for the kharif (fall harvested) crop. Production is estimated at 148.6 million metric tons (MMT), or 9 MMT lower than last year’s kharif grain crop. FAS New Delhi (Post) is lowering to 130 MMT the MY 2022/2023 rice production estimate premised on tight domestic market supplies, as reflected in firm prices and the Indian government imposing export restrictions. The MY 2023/2024 rice production forecast is lowered to 128 MMT due to below-par 2023 monsoon rains and El Niño conditions arriving in the latter part of 2023. The MY 2023/2024 wheat production forecast is revised lower to 106 MMT based on a continued tight domestic market situation.”

Tags: grain, prices, rice, estimate, Production, wheat, India, crop, Эль-Ниньо, restrictions, export, kharif