May 7, 2008

India's May 1 wheat stocks up 57 percent on-year 
 

India's wheat stocks in state-run granaries were at 18.17 million tonnes as of May 1, up 6.57 million tonnes from a year ago, a senior government official said Tuesday (May 6, 2008).

The country's wheat buffer stocks, mainly distributed to the country's poor, is a key indicator of the country's import intentions.

"The stocks have risen this year because of record local purchases by government agencies and a bumper output," said the official.

Rice stocks were estimated at 11.4 million tonnes, down from 13.48 million tonnes a year earlier.

Total foodgrains stocks were at 29.57 million tonnes, up from 25.08 million tonnes a year ago.

India's federal government estimates wheat production in the crop marketing year that started in April at a record 76.78 million tonnes.