Once Again, the Centre Has Excess Wheat, Rice Stocks. What Are Its Options?

After 122 past bearish policy events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% over 20.

• May 13, 2019FCI Has Too Much Wheat: Either It Must Revise Prices, Or Auction Stocks-0.4%
• Dec 9, 2022India's ban on rice and wheat exports has been a failure - Nikkei Asia+10.3%
• Feb 12, 2024What are reference prices and why are they in the farm bill?-4.8%
• Feb 25, 2026India permits 25 lakh tonnes wheat export; FCI stocks at 182 lakh tonnes - The HinduBusinessLine+0.6%
• Apr 29, 2019India lifts wheat tariff as election, harvest shape policy - Grain Central-4.1%

After 100 past bearish policy events, Rough Rice moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.6%), and +0.1% over 20.

• May 13, 2019FCI Has Too Much Wheat: Either It Must Revise Prices, Or Auction Stocks+3.3%
• Dec 9, 2022India's ban on rice and wheat exports has been a failure - Nikkei Asia-0.7%
• Jul 29, 2025Carryover stocks of rough rice could exceed 200 thousand tons.-1.5%
• Jul 10, 2024Government to resume wheat sale from FCI stock; may take a call on lifting ban in rice exports - Times of India-15.8%
• Jul 17, 2024Non-basmati rice bore the brunt of export restrictions imposed in 2023 | Agriculture - Business Standard+2.3%