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On July 4, 2018, the Government of India (GOI) approved a significant increase in the minimum support prices (MSPs) for the kharif (fall harvested) crops for the 2018/19 season.
FAS India forecasts MY 2018/19 cotton production at 28.7 million 480 lb. bales on 11.85 million hectares.
On July 2, 2018, the Ministry of Commerce and Industry issued a notification extending the quantitative restrictions (QRs) on imports of peas by another three months until September 30, 2018.
Post forecast Australian wheat production at 21 million metric tons (MMT) for 2018/19, 12.5 percent below the official forecast, due to hot conditions and low rainfall in eastern Australia.
Health, wellness, and the environment continue to be key purchasing factors for Australian consumers.
Organized retail continues consolidation with larger players expanding through acquisition. Domestic and international retailers are building stronger cash and carry wholesale businesses.