Wheat exports may hit record high this season: FAO

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SME Times News Bureau | 13 Dec, 2012
India's wheat exports for the 2012-13 marketing season may touch 5 million tonnes as a result of all time high harvest and large carryover stocks, United Nation's body FAO has estimated.

"In India, given the estimated bumper wheat harvest and larger carryover stocks, exports are anticipated to reach a record level of 5 million tonnes in 2012-13," Food and Agriculture Organisation (FAO) said in its latest Crop Prospects and Food Situation report.

Wheat marketing year in India commences in April and ends in March.

"Weather conditions at the start of the 2012-13 season have been generally favourable for planting of winter wheat, barley and secondary rice crop. In India, early official forecast for the 2013 wheat crop is set at a near average level of about 86 million tonnes," the report added.

The government has kept a target of 86 million tonnes of wheat in the 2012-13 rabi (winter) season. The country had harvested a record 93.90 million tonnes in 2011-12 crop year (July-June) due to good rains.

In addition, the government has a wheat stock of 37.65 million tonnes as of Dec 1, 2012, which is above the stipulated buffer and strategic stock requirement of 11.2 million tonnes as of January 1, 2013.