Wheat Price: How will the price of wheat reduce! How wheat price will come down as several parts of the country are witnessing unusually warm weather
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Wheat plays an important role in the food security of the country. According to a Bloomberg report, if the effect of heat persists for a long time, then it may affect the wheat crop in the country for the second consecutive year. Due to this, the efforts of the government to reduce the inflation of food items can be a setback. Along with this, the government may have to continue banning the export of wheat. Due to this, the wheat market can remain tight worldwide. Wheat is already in short supply internationally due to the drought in the US and the war in Ukraine.
Wheat price at record level
According to government data, the average price of wheat was Rs 33.15 per kg in major cities of the country on Monday, while the average price of atta (wheat flour) was Rs 37.63 per kg. To control the price, the government has announced the sale of additional 2 million tonnes of wheat in the open market. Due to this, the price of wheat and flour is likely to fall by Rs 10 per kg. Assembly elections are to be held in many states this year and then there will be general elections next year. In such a situation, keeping the price of wheat under control is the top priority of the government. The wheat stock with the government has reached the lowest level since 2017. Gyanendra Singh, head of the Indian Institute of Wheat and Barley Research, said the wheat crop in India is in good condition right now but farmers need to water their fields to avoid any damage. Also they need to protect the crop from insects and diseases. The risk of these things increases as the heat increases.
Now flour will not get wet due to inflation, the government is going to take a big step to control the deteriorating budget of the kitchen.
Singh said that if the day temperature exceeds 30 degree Celsius or the night temperature exceeds 15 degree Celsius, farmers should spray potassium chloride on the crop. According to the Ministry of Agriculture, the stock of wheat is expected to reach a record level this year. Despite this, the price of wheat has remained at the record level. The average retail price of wheat has gone up by 19 per cent compared to last year, while the price of flour has gone up by 20 per cent. The government has announced the sale of a total of 50 lakh tonnes of wheat in the open market from government reserves. The government has formed a panel to monitor the outbreak of heatwave on wheat crop.
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