India: Grain and Feed Update
MY 2015/16 wheat production is forecast lower at 87 million metric tons (MMT) compared to nearly 96 MMT in 2014/15, on expected damage from untimely rains in March/April. However, sufficient carryover stocks with the government will limit any significant negative impact on domestic supplies. India is likely to emerge as net importer of wheat in MY2015/16 with imports estimate at 1.0 MMT and exports at 0.5 MMT. MY 2014/15 rice exports estimate is raised to 10.2 MMT on higher exports in the first half of the marketing year. The MY 2014/15 corn production estimate is revised lower to 21.5 MMT and exports to 1.5 MMT.
