Weekly Review-Wheat

29-Jun-2024 08:17 PM

Wheat prices soften in many mandis due to implementation of stock limit

New Delhi. The Central Government decided to impose storage limit on wheat on 24 June 2024, which became effective from the same day. This order will remain in force till 31 March 2025 and under this, maximum stock limit of wheat has been fixed for millers-processors, merchant stockists and big chain retailers. Its psychological effect is being seen on the domestic market. During the week of June 22 to 28, the price of wheat softened in Rajkot, Indore, Dewas, Dabra, Bundi and Sitapur and some other mandis, while its price remained strong in Delhi, Ujjain and Itarsi.

Delhi

During the week under review, the price of wheat from UP / Rajasthan in Delhi improved by Rs 20 to Rs 2690/2700 per quintal, while its arrival was recorded between 6000 to 10000 bags.

Gujarat
On the other hand, the price of wheat fell by Rs 100 in Rajkot, Gujarat, Rs 250 in Indore, Madhya Pradesh, Rs 300 in Dewas and Rs 75 per quintal in Dabra. But it increased by Rs 100 in Ujjain and Rs 10 in Itarsi. The price of wheat remained somewhat soft in Baran and Bundi of Rajasthan. Wheat prices also fell by Rs 20 and Rs 15 per quintal respectively in Mainpuri and Etah of Uttar Pradesh.

Arrival
Limited arrival of wheat is being made in the markets of major producing states, but still mainly softness is being seen in the prices because due to the implementation of storage limit, buyers are avoiding buying it in large quantities. The industry-trade sector does not have a large stock of wheat available and farmers are also not ready to sell their produce at low prices. The government has not started OMSS yet. But it has definitely started tightening the noose on traders-millers. :