Weather is Greatly Supporting Wheat Crop

17-Mar-2025 08:42 AM

Weather is Greatly Supporting Wheat Crop
★ The weather in North India is highly favorable for the crop. There has been no significant change in temperature.
★ Lush wheat crops are visible across fields. Except for a few districts in Rajasthan, all other states are showing a strong wheat yield.
★ Productivity is expected to be 8–10% higher than last year. The government has set a target of 115 million tonnes for wheat production this year, though millers and the wheat industry estimate it may be around 110 million tonnes.
★ Due to high prices, wheat sowing increased significantly, and favorable weather has further supported crop growth.
★ Some areas did not receive rainfall, but due to good irrigation facilities, there has been no major damage.
★ New crop harvesting has started in Madhya Pradesh, Gujarat, and Maharashtra. MSP (Minimum Support Price) announcements have been made in Madhya Pradesh and Rajasthan, leading to prices being quoted above MSP in neighboring states. Due to a lack of stock in the pipeline, wheat is being sold quickly in mandis (markets). Harvesting progress: 25–30% in Gujarat, 15–20% in Madhya Pradesh, and 10% in Rajasthan.
★ This season, the government has set a procurement target of 31.27 million tonnes of wheat: 12.4 million tonnes from Punjab, 7.5 million tonnes from Haryana, 3 million tonnes from Uttar Pradesh, and 2 million tonnes from Rajasthan.
★ I-Grain India believes that due to the strong crop, there may be pressure on prices, but they are unlikely to fall below the MSP.
★ It remains to be seen how much wheat is ultimately procured into the central pool.

Important Disclaimer:
This report is for informational purposes only I-Grain India does not take any responsibility for profits or losses and does not promote any specific market movement (bullish or bearish). *Please make decisions based on your own judgment and understanding.