More Stories

Informist, Wednesday, Mar. 12, 2025

MUMBAI – The US Department of Agriculture has scaled up its estimate for global wheat supply in 2024-25 by 5.4 million tonnes to 1.07 billion tonnes due to higher opening stocks in Turkey and higher production in Australia, Argentina and Ukraine, the department said in its World Agricultural Supply and Demand Estimates report for March. It expects lower trade and higher comsuption and ending stocks this year. 

The department has also raised its estimate for wheat consumption by 2.9 million tonnes to 806.7 million tonnes, primarily due to higher feed and residual use for Australia, the European Union, and Thailand, it said. 

Ending stocks of wheat are estimated higher by 2.5 million tonnes at 260.1 million tonnes compared to the estimate of 257.6 million tonnes in February. Global trade is now seen down 900,000 tonnes at 208.1 million tonnes, owing to lower exports from the EU, Russia, and the US. 

The department pegged global imports at 202.7 million tonnes, lower than the 204.8 million tonnes projected last month.  

It has kept India's wheat output estimate unchanged from February at 113.29 million tonnes. The department's estimates show India's wheat production in 2023-24 at 110.55 million tonnes, while the Indian government's output estimate is 113.3 million tonnes.

RICE

The outlook for rice in 2024-25 global is largely unchanged as the estimate for global production is virtually unchanged and that for supply has been raised only fractionally due to a small increase in opening stocks, the department said. 

It has increased its estimate for gobal rice consumption by 200,000 tonnes to 530.7 million tonnes owing to prediction of higher consumption in Bangladesh and Nepal. With minor revisions to global exports, the ending stocks estimate has been reduced slightly, by 100,000 tonnes to 181.5 million tonnes, it said.

The US Department of Agriculture now estimates global exports of rice at 58.39 million tonnes, against its forecast of 58.32 million tonnes last month. India's rice exports for the current year are seen at 22 million tonnes, unchanged from last month.  End

Reported by Taniva Singha Roy

Edited by Avishek Dutta

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.