India's Granaries Overflow as Rice Stocks Hit Record, Wheat Surges

India’s Rice Stocks Hit Record High, Wheat Reserves Surge on Strong Procurement

India’s grain reserves have reached unprecedented levels, with rice stocks in government warehouses reaching a record high in early June and wheat inventories reaching their highest level in four years, according to official figures. Rice reserves, including unmilled paddy, increased 18% year on year to 59.5 million metric tons as of June 1. This volume substantially exceeds the government’s July 1 objective of 13.5 million tons. Wheat reserves …

India's granaries overflow as rice stocks hit record, wheat surges

FILE PHOTO: A labourer sifts rice crops in a grain market in Karnal in the northern state of Haryana, India, October 15, 2024. REUTERS/Bhawika Chhabra/File Photo MUMBAI (Reuters) -India’s rice stocks in government warehouses rose 18% from a year ago to a record high for the start of June, while wheat stocks have hit their highest level in four years on higher procurement from farmers, official data showed on Wednesday. Record rice stocks will h…