New Delhi, IN —The Indian government has extended of the additional free food grains scheme through March 31.
As a result, an additional 16 million metric tons (MMT) of grains will be released from government stocks.
FAS New Delhi (Post) is therefore increasing the market year (MY) 2021/2022 consumption estimate to 100.3 MMT on the expected higher offtake of wheat under the free food grains scheme.
By the same token, Post's MY 2021/2022 wheat exports estimate is raised to 6.5 MMT due to strong export demand combined with competitive Indian wheat prices in the neighboring markets.
The MY 2021/2022 wheat ending stocks number has also been revised lower to 23 million metric tons.
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