India’s Rice Stocks Hit Record, Wheat at Four-Year High

India’s rice stocks in government warehouses climbed over 14% from a year earlier to a record high for early September, while wheat inventories reached a four-year peak on stronger buying from farmers, official data showed, Rajendra Jadhav reported for Reuters.

State reserves of rice, including unmilled paddy, totaled a record 48.2 million metric tons (MMT) as of September 1, far exceeding the government’s target of 13.5 million tons for July 1.

Record rice stocks will support higher exports by the world’s biggest supplier, while improved wheat inventories give the government room to curb potential price spikes later this year through open-market sales.

State reserves of rice, including unmilled paddy, totaled a record 48.2 million metric tons (MMT) as of September 1, far exceeding the government’s target of 13.5 million tons for July 1.

Wheat stocks stood at 33.3 MMT on September 1, well above the government’s target of 27.6 million tons, the data showed.

“Rice exports are rising. India is set to export a record quantity this year, but stocks remain high due to last year’s record crop,” said a New Delhi–based dealer at a global trading firm.

India, which accounts for around 40% of global rice exports, removed the last of its export curbs on the grain in March 2025. The Rice Exporters Association expects shipments from India to rise by nearly 25% from a year earlier to a record 22.5 million tons this year.