India: Rice stocks stand at 59 mnt in Sep 26, with private inventories higher
India’s estimated government rice stocks declined to 38.7 million tonnes in September from 39.8 million tonnes in August, while private stocks rose to 20.2 million tonnes from 14.1 million tonnes. USDA’s closing-stock estimate increased to 59 million tonnes, indicating adequate overall availability.
Indias rice stock position showed a mixed trend in September 2026, with government-held inventories declining slightly while private-sector stocks increasing. According to the data, estimated rice stocks with government agencies stood at around 38.7 million tonnes (Mnt) in September, down from 39.8 Mnt in August.
In contrast, estimated stocks with private players increased to around 20.2 Mnt in September from 14.1 Mnt in August. The USDAs estimate for Indias closing rice stocks rose to 59 Mnt in September from 54 Mnt in August.
Government rice stocks ease after reaching 40 Mnt
Estimated rice stocks with government agencies reached around 40 Mnt in July and August before declining to 38.7 Mnt in September. Government stocks had increased from around 30.5 Mnt in October 2024 to nearly 40 Mnt by July 2026. The September decline indicates some drawdown from government inventories after stocks remained close to the 40 Mnt level during July and August.
Private stocks rise sharply in September
Estimated rice stocks with private players increased to around 20.2 Mnt in September from 14.1 Mnt in August. The latest increase takes private-sector stocks to their highest level in the period shown in the data. This compares with a low of around 4 Mnt recorded in May 2025.
USDA closing-stock estimate reaches 59 Mnt
The USDA estimate for Indias closing rice stocks rose to around 59 Mnt in September, the highest level shown in the data. The estimate stood at 54 Mnt in July and August before increasing by around 5 Mnt in September. USDAs closing-stock estimate has generally moved higher since October 2024, when it stood at around 43 Mnt. The estimate reached 48 Mnt in December 2025 and remained near 50 Mnt during May and June 2026 before rising to 54 Mnt in July and August.
Outlook
Indias rice stock position remains relatively stable, with the USDAs closing-stock estimate rising to 59 Mnt in September. Government stocks eased slightly, while private inventories increased during the month. The overall stock position indicates adequate availability, although export demand, fresh arrivals and variety-wise supply will remain key factors influencing rice prices in the near term.
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Source : BigMint
