Agricultural Supply and Demand Outlook
Wheat
• On 15 May 2022, the Government of India extended the 2022/23
"Rabi" Marketing Season (RMS), typically occurring from April to
March, wheat procurement deadline through 31 May 2022 (in a few
states procurement will continue until mid-July 2022). As of 14 May
2022, wheat procured during the 2022/23 RMS amounted to 18
million tonnes, compared with a total of 36.7 million tonnes during the
2021/22 RMS.
• In addition, the government lowered the quality specification for
wheat to be procured during 2022/23, with the maximum allowed
limit for shriveled/broken grains set at 18 percent, up from the
previous 6 percent, for Punjab and Haryana, including U.T. of
Chandigarh. The latter decision aims to ensure more farmers have the
possibility to sell their wheat at the established procurement price
and thus limit potential distress sales and farmer hardship.
⚫In May 2022, Argentina up river f.o.b. wheat prices was quoted at US
Dollar 449/tonnes.View entire presentation