USDA pegs India FY18 wheat output at 97 million tonne, up 11.5% on year.

The US Department of Agriculture has pegged India wheat production in 2017-18 (Apr-Mar) at 97.0 million tonne, up 11.5% from 87.0 million tonne estimated for 2016-17. The increase is due to favourable weather, boosting yields in the main wheat producing areas. Imports were likely to remain high in 2017-18 because of cheaper availability of the grain in global markets. In 2017-18, global wheat production is likely to fall by 2% to 737.83 million tonne due to lower output in the US, Argentina, Australia, and Canada. In the US, the decline is likely seen resulting from a sharp reduction in acreage and lower yields. Global wheat consumption is projected down slightly from last year record with reduced feed and residual usage partially offset by increased food use.