Weekly Review-Wheat
19-Oct-2024 07:06 PM
Wheat prices rise due to demand from flour millers
New Delhi. After being disappointed by the government, traders and flour millers/processors have now started increasing the purchase of wheat from open markets, due to which its prices were generally seen rising during the week of October 12-18. The price of wheat from UP/Rajasthan in Delhi increased by Rs 30 to reach a high of Rs 3050/3060 per quintal.
Madhya Pradesh
Prices also increased in the markets of Madhya Pradesh. There, the price of wheat in Indore increased by Rs 70 to Rs 2800/3350 per quintal and in Dewas it jumped by Rs 300 to reach Rs 2750/3500 per quintal. Apart from this, the price of wheat in Ujjain and Harda also increased by Rs 50-50. In Kota Mandi of Rajasthan, the price of wheat increased by Rs 55 to Rs 2700/2850 per quintal and in Bundi it improved by Rs 25 to Rs 2680/2775 per quintal, while in Baran it remained stable at the previous level.
Uttar Pradesh
In the mandis of Uttar Pradesh, the price of wheat increased by Rs 5 to Rs 55 per quintal, but in Jalna Mandi of Maharashtra the price fell by Rs 100 to Rs 2750/3200 per quintal. In most of the mandis, the price of wheat is running much higher than the government support price, but still the arrival is limited. This indicates that the producers have less stock of wheat left and the off season of its supply has started.
Stock / Sale
The government has implemented the storage limit order on wheat and has ruled out the possibility of starting the sale of wheat from its stock under the Open Market Sale Scheme (OMSS) for the time being. The price of wheat flour sold under the Bharat brand has been increased from Rs 275 to Rs 300 per 10 kg. The minimum support price of wheat has also been increased by Rs 150 from Rs 2275 per quintal for the 2023-24 season to Rs 2425 per quintal for the 2024-25 season.