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India wheat crop reaching 100 mt widens global glut

Bloomberg  |  New Delhi 

Wheat production in India, the world's second-largest grower, will probably climb to a record, as all-time high domestic prices boost planting, adding to global grain surpluses. The harvest could total 100 million tonnes (mt) in the marketing year starting April 1, Agriculture Commissioner J S Sandhu said on Thursday. Output had fallen 2.5 per cent to 92.5 mt a year earlier from a record 95 mt in 2011-2012, according to the agriculture ministry. Crop prices from wheat and corn to canola are slumping as record harvests from the US to Brazil expand global grain inventories. The ...

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First Published: Thu, January 09 2014. 22:32 IST
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