Weekly Review-Wheat
03-Aug-2024 03:52 PM
Mixed trend in wheat prices amid normal trading
New Delhi. Due to the unclear date of auction under the Open Market Sale Scheme (OMSS), the price of wheat increased during the week of 27 July - 2 August due to continued purchases by millers / processors and traders in some mandis, but in some other mandis the price came down or remained at the old level.
Delhi
During the week under review, the price of wheat of UP / Rajasthan in Delhi increased by Rs 30 to Rs 2680/2690 per quintal and in Dewas jumped by Rs 200 to Rs 2300/3200 per quintal, while in Rajkot of Gujarat it fell by Rs 100 to Rs 2500/3000 per quintal. Indore also saw a decline of Rs 50 and the price fell by Rs 20 in Dabra. The price of wheat in Kota and Bundi of Rajasthan improved by Rs 25 and Rs 15 respectively.
Uttar Pradesh
Similarly, in the mandis of Uttar Pradesh also, its price rose by 10-20 rupees. The price of wheat improved by 50 rupees to 2500 rupees per quintal in Hardoi and by 100 rupees in Jalna mandi of Maharashtra to 2550/3600 rupees per quintal.
Arrival
Limited quantity of wheat is being supplied in most of the mandis of the country. In Delhi, there was a daily arrival of 4 to 8 thousand sacks, while in important mandis of major producing states, different arrivals were seen less than this.
Sale
Although the central government has fixed the minimum reserve price of wheat to be sold under OMSS, which has been fixed at Rs 2325 per quintal for FAQ category and Rs 2300 per quintal for URS variety, but due to non-starting of the weekly e-auction process, millers / processors have to depend on the mandis. It is expected that the sale of government wheat will start soon, but due to the high reserve price and additional freight charges, it is doubtful whether government wheat will be more attractive this time. There is a huge surplus of wheat in government warehouses, while efforts will be made to continue the sale of wheat from it till February 2025. The matter of sale seems to be quite complicated.