Wheat prices are increasing in the markets of Madhya Pradesh. Symbolic picture
Highlights
Wheat prices are expected to rise further during the festive season. The price of wheat in the market may reach Rs 3000 per quintal. Currently, the price of wheat in Indore is Rs 2750-2850 per quintal.
Naiduniya Representative, Indore (MP Gehu Rate). The arrival of wheat in all the wholesale markets of the country along with Madhya Pradesh is continuously decreasing. Meanwhile, prices are increasing due to festive demand. The flour mills association has demanded action from the central government.
Flour mills have urged the Union Ministry of Food and Civil Supplies along with the Food Corporation of India (FCI) to start selling wheat under the Open Market Sale Scheme (OMSS) as soon as possible. The open market price of wheat has jumped to a nine-month high.
Rates can reach up to 3 thousand rupees per quintal
Its prices are likely to rise even more during the festive season. If the government does not release the wheat stock stored in its warehouses in the markets as soon as possible, it will not be a surprise if the price of wheat in the open markets reaches Rs 3000 per quintal.
Currently the rate is Rs 2850 per quintal
Currently, the price of wheat of mill quality in Indore market is being quoted at Rs 2750-2850 per quintal. Flour millers of South India are the most troubled. They get their supplies from North India. The latest deals are becoming very expensive for them.
Because there is no or negligible wheat production there. Last year, the government started weekly e-auction of wheat under OMSS from the last week of June and about 100 lakh tonnes of wheat was sold between June 2023 and February 2024.
This shows how huge was the need of wheat for flour millers/processors. This year too the requirement is as much or more and the government is ignoring it so far.
