As of April 1, India’s wheat reserves rose 57% year-on-year to 11.8 million metric tons, the highest in three years. 63.09 million tons of rice, including unmilled paddy, have been received, more than four times the government’s target.
After years of poor harvests and tight procurement, these strong reserves are expected to stabilize prices and allow for viable rice exports without jeopardising domestic supplies. In addition, India is expected to import wheat for the first time in seven years.
At the same time, rice reserves, including unmilled paddy, have reached a record high of 63.09 million tons. This is higher than the government’s buffer stock target of 13.6 million tons. In addition to ensuring domestic food security, large rice reserves give India the opportunity to increase exports without burdening domestic supplies.
