India's wheat harvest in 2023 is at least 10% lower than the government's estimate, a leading trade body told Reuters on Wednesday, amid a sharp rise in local prices during the past two months.
Lower wheat production for a second straight year could complicate New Delhi's efforts to keep a lid on prices of the staple and overall food inflation, a major concern amid forecasts of an"Availability of wheat is very poor in the market. It suggests production was around 101 million to 103 million tons," said Pramod Kumar S, president of the Roller Flour Millers' Federation.According to the government, wheat output rose to a record 112.
Farmers start harvesting wheat from March, selling most of their crop to state agencies and private traders by June. Supplies from farmers have already dropped, suggesting the agriculture ministry's production estimate is more optimistic than the reality, Kumar said. Wheat prices in New Delhi have jumped 10% in the past two months to 24,900 rupees a metric ton, prompting the government to impose aA New-Delhi based trader with a global trade house also said the farm ministry had overestimated this year's wheat output, while a Mumbai-based trader said the government had failed to take into account
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