India may import 1.5 MMT wheat in 2018-19: USDA report

With the domestic production of wheat projected to dip by 3 million tonnes from the official estimates of 97 MMT, India may import 1.5 MMT of wheat in the marketing year 2018-19. Despite lower planting, the (Indian) government’s preliminary estimate (2nd Advance Estimate released on February 28, 2018) forecasts 2018 wheat production optimistically at a near-record 97 MMT; they expect a further increase in yield over last year’s record yield despite adverse planting conditions. However, most trade sources are currently estimating the crop in the range of 91-94 MMT.