MY 2013/14 milled rice production is lowered to 103 million metric tons (MMT) on crop damage due to recent cyclones on the eastern coast and heavy rains in eastern and southern states. MY 2012/13 export estimate is revised marginally lower to 10.9 MMT based on preliminary official statistics.
Government wheat exports against the 2 MMT quota have resumed with lowering of the minimum export price from $300 to $260 per ton FOB in early November and issuance of seven tenders.
