India's rice stocks reach record high while wheat reserves decline

India's rice stocks reached a record high of 60.9 million metric tons at the start of January, significantly exceeding the government's target of 7.6 million tons. This increase supports the country's position as the world's largest rice exporter. In contrast, wheat stocks have decreased to 18.4 million tons, below the five-year average of 26.7 million tons. The government plans to sell only 2.5 million tons of wheat to bulk consumers this year, down from 10 million tons last season. Traders are urging the government to increase wheat sales due to market shortages. Wheat prices have surged to record highs amid strong demand and limited supplies.