IGC lowers India 2018-19 wheat output estimate by 2 MMT to 92 MMT.

International Grains Council has lowered its estimate for India’s wheat output in 2018-19 (Apr-Mar) to 92.0 mln tn from 94.0 mln tn. The agency’s forecast is lower than the Indian government’s estimate of 97.1 mln tn wheat supplies for 2018-19. The cut in estimate may be attributed to a decline in acreage as prices have remained subdued in the last year. The council has raised its forecast for India’s wheat imports in 2018-19 to 4.5 mln tn, compared to its previous estimate of 3.5 mln tn.