According to traders, wheat production could be 5% lower than what the government has predicted

India’s wheat production is expected to reach 106 million tonnes in the 2023-24 crop year, up by 3% from the previous year, according to a trade association poll. This is in contrast to the government’s forecast of a record 112 MT, indicating that the market expects the output to be 5% lower than the government’s projection.

Wheat production is expected to increase by 2% to 31.13 quintal/acre in 2023-2024. Production will rise in Haryana and Uttar Pradesh, but fall in Gujarat, Rajasthan, and Maharashtra.

About 0.7 MT of wheat were bought from farmers during the same time in the previous marketing season. It was far back in 2008 that wheat stocks fell below their current levels. In April of that same year, it had then fallen to 5.8 MT.

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