Wheat Price: India on the way to Pakistan! Wheat prices hit record high in the country – wheat prices hit fresh record high as govt delay in releasing extra stocks
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But despite the ban on exports, the price of wheat in the country is not taking the name of freezing. Traders say this is an indication that there was a significant reduction in wheat production last year. According to government data, the production of wheat in the country in 2022 was 106.84 million tonnes, which was 109.59 million tonnes a year ago. Trader Gopaldas Agarwal of Indore said that farmers have sold their crops, traders have no wheat left but demand remains strong. Prices are rising due to lack of supply according to demand. The price is not expected to come down till the next harvest.
price at record level
Wheat is sown in the country in October-November and harvested in March. The price of wheat has reached a record Rs 29,375 per tonne in the Indore market. Its price has increased by seven percent this month. Last year, there was a 37 per cent increase in the price of wheat in the country. On Monday, the price of wheat in Delhi rose by almost two per cent and reached a record Rs 31,508 per tonne. A dealer in a global trading firm said that if the government does not release the stock of wheat in the next 15 days, its price may increase by five to six percent.
Trader Rajesh Paharia Jain from New Delhi said that even flour mills are not getting enough wheat and the price is very high. The government no longer has time to procrastinate. The government says it will take measures to prevent wheat prices from rising. To help the mill owners and biscuit making companies, the government can release 20 to 30 lakh tonnes of wheat from its stock. Till December 15, about 180 lakh tonnes of wheat was available in the central pool. The procurement of new wheat crop will start from April 2023.
Pakistan Economic Crisis: Not only electricity has been cut, in this matter also Pakistan has been torn apart, there is a lot of chaos
how much the price increased
According to Consumer Affairs Ministry data, the average retail price of wheat was Rs 32.25 per kg on December 27, compared to Rs 28.53 per kg a year ago. The price of wheat flour also remained flat at Rs 37.25 per kg as compared to Rs 31.74 per kg a year ago. The prospects of the new wheat crop are looking better as the total area under its cultivation is more so far. To meet the shortage of wheat in the open market, flour mills have demanded the government to bring wheat stock from FCI godowns to the market.
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