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India Grains Affected by Weather

06 July 2012
USDA Foreign Agricultural Service

INDIA - The southwest monsoon has been progressing slowly and is one to two weeks behind schedule with average rainfall through June 27, 2012, reported 23 per cent below normal.

The Government of India (GOI) raised the minimum support prices (MSP) of kharif (fall and early winter-harvested) crops for the upcoming MY 2012/13 substantially by 16-53 per cent over the last year.

MY 2012/13 wheat procurement is expected to surpass a record 38.0 million tons, inflating the government's already “burdensome” food grain stocks.

The government has announced an additional allocation of 8 million tons of food grains for the domestic market at highly subsidised prices.

Based on the latest official and market reports, the MY 2011/12 corn export estimate has been raised to 3.8 million tons, while consumption has been lowered to 17.8 million tons.

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