NEW DELHI -- India is now Asia's top exporter of grain for the first time beaten heavyweights Thailand and China to become the continent's biggest grain exporter, local media reported on Saturday.

India with ample rice and wheat stocks continues to hold almost 60 million tons grain in 2002, already more than Africa, South America and Central America put together. Even the European Union (EU) holds grain stocks of 37 million tons, and bullish demand, the Indian juggernaut is unlikely to stop rolling anytime soon.

India has exported eight million tons of wheat and rice in 2001-02 which pushes back Thailand' 7.9 million tons and China's 7.4 million tons to second and third places respectively.

But though India appears to have only a marginal lead in volumes, it is phenomenal in growth terms. While India has doubled its cereal exports from 4.1 million tons in 2001-02, China has shrunk from 12.3 million tons to 7.4 million tons. Thailand's exports have remained static from 7.8 million tons in 2001-02. More importantly, India's exports are divided virtually equally between wheat and rice, which is proving to be advantageous in the long run, reported IRNA. The total world rice is only 24 million tons, with the market share of U.S., Thailand, Vietnam, and China taking out more than 16 million tons. So if India needs to expand rice exports to even 5 million tons next year it will have to capture the market share of Thailand and U.S.