Source: Ukragroconsult (Ukraine)
While wheat stocks continue to decline, India’s rice stocks hit a record high in early January, eight times the government’s target, Reuters reported.
As of January 1, rice stocks stood at 60.9 million tons, well above the target of 7.6 million tons.
Wheat stocks were 18.4 million tons, above the target of 13.8 million tons but well below the five-year average of 26.7 million tons.
Rice purchases are still being made in some states, complicating storage, an exporter said.
Increased rice stocks will allow India to increase exports.