Wheat prices see modest gains amidst normal trading
New Delhi: Driven by the off-season for supplies and some festive demand, wheat prices recorded a modest increase of ₹10 to ₹50 per quintal during the week of September 26 to October 2.
Prices
Rajkot saw the highest rise, with prices increasing by ₹100 per quintal. Prices improved by ₹5 in Delhi (reaching ₹2,950–₹2,975/quintal) and by ₹10 in Indore (reaching ₹2,660–₹2,710/quintal), while in Dewas, they rose by ₹50 to reach ₹2,550–₹2,600/quintal. A ₹10 rise was also observed in the Dabra *mandi* (market), whereas other *mandis* in Madhya Pradesh remained quiet.
Rajasthan / Uttar Pradesh
Wheat prices remained stable at previous levels in Kota and Baran (Rajasthan), while in Bundi, they fell by ₹20 to settle at ₹2,680–₹2,700/quintal. Trading activity was relatively better in Uttar Pradesh *mandis*; prices rose by ₹50 per quintal in both Gonda and Rata, and by ₹30 in Sitapur, while a ₹10 per quintal increase was noted in some other *mandis*. Overall market activity remained subdued.
Sales
There is market speculation that the government may soon initiate weekly e-auctions of wheat from its stocks under the Open Market Sale Scheme (OMSS). The Food Corporation of India (FCI) holds ample wheat stocks, and the sowing season is also fast approaching.
Exports
The Punjab government is pressuring the Centre to move its wheat and rice stocks out of the state. Wheat export performance is expected to remain satisfactory in the near future.
