India's Ministry of Agriculture raised wheat production estimates for 2022, even as other analysts predicted a smaller harvest because of a heat wave, Reuters reported. The agency said on Aug. 17 that it expects the country to harvest 106.84 million tonnes, up from 106.41 million tonnes in an earlier estimate. The US Department of Agriculture (USDA) has estimated production at 99 million tonnes, while traders estimate 95 million tonnes. Wheat prices are up 15% from recent lows that came after the government's surprise export ban on May 14, Reuters said. Lower government purchases of wheat and rising local prices are indicating a sharp drop in production, according to a trader. India's wheat purchases were down 57% year-on-year to 18.8 million tonnes. Record acreage, high domestic prices and a good monsoon are expected to boost India's rapeseed production to produce 10.8 million tonnes in 2021-22, according to a report by the US Department of Agriculture's Foreign Agricultural ...
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