Weekly Review-Wheat
14-Sep-2024 06:26 PM
Change in wheat prices as per demand of millers and processors
New Delhi. Despite the announcement made in July, Food Corporation of India (FCI) has not yet started the process of weekly e-auction of wheat under the open market sale scheme, while millers and processors have to buy it from the open market (wholesale market). There is limited arrival of wheat in the markets and as per the purchase, prices are rising at some places and falling at others.
Delhi
During the week of 7th to 13th September, the price of wheat of UP/Rajasthan in Delhi fell by Rs 10 to Rs 2830/2840 per quintal.
Gujarat/MP
On the other hand, in Gujarat, the price of wheat rose by Rs 100 in Gondal but fell by Rs 50 in Rajkot. In Delhi, 5500-6500 bags of wheat arrived in the first three days of the week, after which 10-10 thousand bags were supplied for two days while on 13th September, 6250 tonnes of arrival was recorded. In the mandis of Madhya Pradesh, the price of wheat declined by Rs 100 to Rs 150 per quintal.
Rajasthan
On the other hand, the price of wheat remained stable to a large extent in Rajasthan. In Kota, it rose by Rs 50. In most of the mandis of Uttar Pradesh, the price of wheat declined by Rs 15-20, but in Mainpuri, the price increased by Rs 60 to Rs 2610 per quintal. In all the major wholesale mandis across the country, the price of wheat is running above the government support price (Rs 2275 per quintal).
Price
If seen from the business point of view, the price of wheat is not very high, but today it may seem a little expensive for the consumers. More than 80 crore beneficiaries of the country are being given 5 kg of wheat free of cost every month, so there will be no impact on them, but those who do not have a ration card may face a problem.
Stock limit
The government has already implemented a stock limit on wheat, while its rules have been made more stringent now. There may be some pressure on the price of wheat after the withdrawal from the government stock begins. However, there is no huge surplus stock of wheat in the central pool either.