Russia-Ukraine crisis likely to impact UP's wheat procurement plan

Wheat market prices higher than MSP; UP targeting to buy 6 MT

The surge in domestic and global market prices of wheat following the conflagration between Russia and Ukraine, two of world’s major wheat exporters, is likely to hit the Uttar Pradesh wheat procurement plan.

The Yogi Adityanath government 2.0 is targeting to procure 6 million tonnes (MT) of wheat in the coming rabi marketing season commencing April 1 at the minimum support price (MSP) of Rs 2,015 per quintal (100 kg).

However, the prevailing market price of the commodity is hovering around Rs 2,200 per quintal, while the prices could possibly rise further in the coming weeks depending on how the Russia-Ukraine crisis