Weekly Review-Wheat
28-Sep-2024 08:57 PM
Wheat prices continue to rise due to closure of government stock sale
New Delhi. Instead of selling wheat under the Open Market Sale Scheme (OMSS), the Central Government has decided to ensure its availability to the beneficiaries through PDS in those nine states where it was stopped in the year 2022 itself. These include Bihar, Jharkhand, Gujarat, Uttar Pradesh, Maharashtra, Madhya Pradesh, Odisha, Tamil Nadu and West Bengal. Due to this decision of the government, millers-processors are struggling hard to get adequate stock of wheat while the demand and consumption of wheat producers is increasing due to the festive season.
Delhi
During the week of September 21 to 27, the price of wheat of UP / Rajasthan in Delhi increased by Rs 55 to a high of Rs 2960/2975 per quintal, while its daily arrival was recorded between 6 to 10 thousand sacks.
Uttar Pradesh
Similarly, the price of wheat in Kota jumped by Rs 170 to Rs 2685/2950 per quintal, in Mainpuri of Uttar Pradesh it increased by Rs 110 to Rs 2651 and in Gonda it increased by Rs 100 to Rs 2745/2770 per quintal. The price of wheat in Shahjahanpur, Sitapur and Gorakhpur was up by Rs 60-60 and in Hardoi it was up by Rs 50 per quintal. On the other hand, the price of wheat fell by Rs 200 to Rs 2600/3300 per quintal in Jalna Mandi of Maharashtra and by Rs 20 to Rs 2720/2750 per quintal in Dabra of Madhya Pradesh.
Allocation
The government has decided to allocate 35 lakh tonnes of additional wheat for distribution in the above nine states from October 2024 to March 2025. The industry is not getting adequate quantity of wheat as there is limited arrival of wheat in the wholesale markets.
Mandi Bhaav
The government support price of wheat is fixed at Rs 2275 per quintal, while the mandi price is running much higher than this. It is expected to increase further in the coming weeks. Other support prices of wheat are going to be announced soon. Storage limit is also applicable on wheat, but no effect of this is being seen on the market price.