New Delhi, April 14 (TIWN): The Ukraine-Russia war-led speculation surge for Indian export of wheat may bring down government procurement under Minimum Support Price (MSP) to 30-35 million metric tonnes (MMT) against the targeted 44 MMT this year and high vegetable oil prices may shift some unirrigated rice area to oilseeds, a US Agriculture Department report said.

The US Department of Agriculture's 'Grain and Feed Annual - 2022' report for India, released late on Tuesday night (India time) dwells on market possibilities, sowing area, and record productions.  Pointing out that India is heading for a record wheat harvest this marketing year (MY), it said the Foreign Agricultural Service, New Delhi forecasts MY 2022/2023 (April-March) wheat production at a record 110 from 30.9 million hectares, and up from last year's record 109.6 MMT from 31.1 million hectares.  "India is heading for a record wheat harvest this coming marketing year (MY) thanks to highly favorable weather conditions in the major wheat growing areas. If good weather conditions hold through the harvest (April-May), FAS New Delhi (Post) forecasts MY 2022/2023 (April-March) wheat production at a record 110 million metric tons (MMT) from 30.9 million hectares, and up from last year's record 109.6 MMT from 31.1 million hectares," it said.