International Grains Council has pegged India’s rice output in 2017-18 (Jul-Jun) at a record high of 110.0 mln tn vs 109.2 mln tn produced in LY. The higher production estimate stems from good progress of paddy sowing so far, and forecasts of near-normal monsoon rains this year. The international agency also increased the forecast for India’s rice exports slightly to 10.7 mln tn from 10.6 mln tn estimated a month ago. The country’s rice carryover stocks are seen at 19.0 mln tn, down from 19.2 mln tn year ago.