Image Credit source: PTI
Commodity experts say that due to low yields in many countries and the Russo-Ukraine war, the price of wheat will continue to rise. This year the price is estimated to be 2500 to 3000 rupees per quintal.
Turkey has returned Indian wheat wheat saying that Rubella virus has been found in it. Despite this, there is a demand for wheat not only in many countries of the world, but also in the domestic market. It has been 23 days since wheat export was banned, but even now its rate is getting more than the MSP in the open market. On June 4, Kota reached Rs 3,001 in the online market on the platform of e-NAM. On the other hand, in Karnataka’s Belgaum Mandi, on June 5, the price of wheat was Rs 2500 per quintal. Whereas its minimum support price 2015 is Rs.
At present, the price of wheat in most of the mandis of the country is running more than the MSP. Tarun Satsangi, Commodity Researcher at Origo E-Mandi, says that the demand for wheat will remain in the open market. Before the new supply, the price of wheat may remain in the level of Rs 2500 to 3,000 per quintal. The main reason for this is the international situation and the low yield of wheat. Agricultural experts say that instead of selling wheat now, farmers can get more profit if they store it. Because there is a shortage of wheat all over the world. On the other hand, the Indian government has rejected the allegations of Turkey.
where was the price
- In Sehore, Madhya Pradesh, on June 5, the minimum price of wheat stood at Rs 1,802, an average of 1,900 and a maximum of Rs 3,101 per quintal.
- In Rajasthan’s Kota, on June 4, the minimum price was Rs 1,900, the average rate was 3,001 while the maximum price was Rs 3,179 per quintal.
- On June 4, the minimum price of wheat in Sriganganagar was Rs 1,960 per quintal. The average price was Rs 2,011 while the maximum rate was Rs 2,325.
how much less production
In view of record exports and low production, on May 13, the central government had banned the export of wheat. Australia’s wheat production is short by 17.4 percent. Ukraine has a decline of 34.9 and the European Union by 1.4. As far as India is concerned, the production has come down by about 36 lakh metric tonnes due to heat web. The total production of wheat in the year 2021-22 is estimated to be 106.41 million tonnes. While the target was set to produce 110 million tonnes.
Due to the good price of wheat in the open market, the central government could not achieve the target of procurement this year. This year the government had set a target of 444 lakh metric tonnes of wheat procurement. But, when farmers did not come to the market to sell wheat, it was revised to 195 lakh metric tonnes. However, till May 18, the government was able to purchase only 181.25 lakh tonnes.
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