New Delhi. Due to limited purchases by millers and processors and good arrivals in the markets, wheat prices remained extremely weak during the week of February 7-13, falling by ₹100-200 per quintal.

To stabilize the market, the central government has approved the export of 2.5 million tonnes of wheat and has also increased the export quota for wheat products from 500,000 tonnes to 1 million tonnes. As a result, market activity is expected to increase in the coming days.

During the week under review, wheat prices fell by Rs. 60 to Rs. 2725/2740 in Delhi, Rs. 200 to Rs. 2200/2800 per quintal in Rajkot, Rs. 100 to Rs. 2400/3000 per quintal in Dewas, Rs. 50 to Rs. 2325/2900 per quintal in Ujjain, Rs. 150 to Rs. 2380/2430 per quintal in Itarsi, Rs. 115 to Rs. 2300/2410 per quintal in Kota, Rs. 90 to Rs. 2350/2430 per quintal in Bundi, and Rs. 100 to Rs. 2500 per quintal in Gorakhpur.

Wheat prices also fell by Rs. 50-75 per quintal in some other markets of Uttar Pradesh. The Rajasthan government announced an additional bonus of ₹150 per quintal above the minimum support price (MSP) for wheat, yet wholesale market prices declined. Millers and processors have significant wheat stocks, so they are showing little interest in government wheat procurement. Until now, they had the opportunity to purchase wheat in adequate quantities at affordable prices through open markets.