Weekly Review-Wheat

22-Jun-2024 08:39 PM

Limited improvement in wheat prices with normal trading

New Delhi. Although the government has not given any indication of starting weekly e-auction of wheat under the Open Market Sale Scheme (OMSS) nor is there a positive attitude on the demand of millers-processors to make wheat imports duty free, due to which the industry-trade sector is worried and upset, but it has not given up all hope. In a meeting of the Committee of Ministers chaired by the Cooperative Minister yesterday, the wheat market and stock were reviewed and the need to keep a close watch on its prices was emphasized. The price of wheat and its products is running at a high level.

Delhi

During the week of June 15-21, the price of wheat from UP / Rajasthan in Delhi improved by Rs 25 to Rs 2685/2690 per quintal. Wheat prices have been rising there for the last few weeks. Daily arrival of wheat in Delhi was recorded between 4000 to 7000 bags. Gujarat / Madhya Pradesh
In most of the mandis of Gujarat and Madhya Pradesh, due to limited business and low arrival, the price of wheat remained stable at the old level, but increased by Rs 50 in Dabra and Rs 75 in Harda to reach Rs 2600/2700 per quintal and Rs 2480/2625 per quintal respectively. On the other hand, the price fell by Rs 10 in Itarsi.
Rajasthan
In Rajasthan, the price of wheat remained stable in Kota, but improved by Rs 25 in Baran to Rs 2550/2725 per quintal and increased by Rs 40 in Bundi to reach Rs 2500/2640. There was some fluctuation in the price of wheat in the mandis of Uttar Pradesh. There, its price fell by Rs 30 in Hardoi to Rs 2420 per quintal, but in Shahjahanpur, Sitapur, Gorakhpur, Gonda, Mainpuri and Etah, the price increased by Rs 10 to Rs 50 per quintal. The price of wheat in Jalna Mandi of Maharashtra increased by Rs 100 to Rs 2375/3400 per quintal.
Price
The price of wheat in all major mandis is above the minimum support price of Rs 2275 per quintal declared by the government. The government is keeping an eye on this but it is hesitant to take a decision to clear its stock to increase the supply because compared to last year, this time the purchase of wheat for the central pool has increased by less than 4 lakh tonnes.