FAS USDA: India reduces wheat import due to record yileds

05 May, 2017
FAS USDA: India reduces wheat import due to record yileds
According to FAS USDA forecast, India will harvest a record yield of wheat in the current season, which started in April.

Due to the aforesaid, wheat import in the country will decrease by 2 mln. tonnes (compared to the previous season) to 4 mln. tonnes.

Indian farmers expanded the areas under wheat cultivation to the record 31.75 mln. ha, given 30.41 mln. ha for the previous season.

Wheat yield is expected to reach 96.5 mln. tonnes, given 87 mln. tonnes in the previous season. However currently the price of wheat in India is high - 250-260 USD/mt. Prices are expected to decline in May - June as a result of the massive supply of the new crop grain.

Domestic consumption of wheat will reach 99.8 mln. tonnes (97.54).

Private companies have already bought 0.5 - 1 mln. tonnes of wheat with April - June shipment.