December 14, 2009

India issues new 2010 grain surplus figure

India will have a grain surplus of 7.7 million tonnes when the wheat season begins on April 1.

There will be adequate food supply and grain availability when reserves are included, said Finance Minister Mr. Pranab Mukherjee.

The worst monsoons in nearly four decades, followed by floods in some areas, have ruined crops and pushed up the food price index an annual 19.05% by end November.

India's Agriculture Minister Mr. Sharad Pawar said Friday in Parliament that the country's wheat output in the fiscal year ending March 31 will likely exceed last year's level.

India, the world's second-largest wheat producer, harvested a bumper crop totalling 80.58 million tonnes of wheat in 2008-09.