MUMBAI, INDIA — India’s wheat harvest is 10% lower than the government’s estimate, according to a leading trade body, Reuters reported.
The Roller Flour Millers’ Federation said availability of wheat is very poor in the market, suggesting production of 101 million to 103 million tonnes.
The government has said wheat harvest reached a record 112.74 million tonnes in 2023, up from 107.7 million tonnes a year ago. India consumes about 108 million tonnes of wheat per year.
Wheat harvest starts in March with farmers selling most of their crop to state agencies and private traders by June. The federation said supplies from farmers already have dropped, suggesting the production estimate is more optimistic than reality.
Wheat prices have increased 10% in the last two months to $303 a tonne, causing the government to impose a limit on the amount of wheat stocks traders can hold.
