India govt May 1 wheat stock at 35.3 MMT, up 19% on year.

The government had 35.3 mln tn wheat in its stocks as of May 1, against 29.6 mln tn a year ago. Government stock rose by nearly 22 mln tn in the last one month due to pick up in procurement. So far, the government has procured 32.6 mln tn wheat for the current marketing year, up from 31.9 mln tn a year ago. It expects procurement in 2018-19 (Apr-Mar) to touch 35.0 mln tn, breaching the initial target of 32.0 mln tn. The procurement has already crossed the initial target of 32.0 mln tn and even though the purchases have “dwindled” in Punjab, Haryana, and Rajasthan now, they will continue in Uttar Pradesh for another one month.