Page 2 - Wheat Prices

Wheat purchases by govt at 25.4 mn tonnes, 1.5% lower than last year

However, trade and industry officials say the world's second-biggest wheat producer won't be able to achieve its procurement target of 30-32 million tons

Wheat stocks in govt warehouses at 16-year low after record sales

The government has buffer and strategic reserve norms that mandate holding wheat stocks at or above 7.46 million tons on April 1

Flour millers' survey predicts better wheat production over last year

Flour millers' estimate of 105.79 mt differs from the govt's 2024-25 projection of wheat production at 112 mt

Centre mandates weekly reporting on wheat stocks to prevent hoarding

India had imposed a limit on how much wheat stock traders could hold to moderate prices. However, the limit is set to expire on March 31st and after that, traders must declare their wheat stocks

Centre orders mandatory declaration of wheat stock position from April 1

The Union government said that the move is in a bid to manage the overall food situation and prevent hoarding and unscrupulous speculation

Farmers wait to reap Madhya Pradesh govt's wheat MSP poll promise

Wheat prices are ranging between Rs 2,700 and Rs 3,000 per quintal in the open markets of Madhya Pradesh. If the government fails to give bonus, wheat procurement is likely to fall short of the target

Govt sells 0.34 mn tn wheat, 13,164 tn rice in open market to check prices

The government has sold 3.46 lakh tonnes of wheat and 13,164 tonnes of rice through e-auctions to bulk consumers as part of its effort to boost domestic supplies and control retail prices. The government is selling wheat and rice from its buffer stocks to keep retail prices under control under the Open Market Sale Scheme (OMSS). Food Corporation of India (FCI), the government's nodal agency for food grains procurement and distribution, is conducting the e-auctions. The Centre has allocated 101.5 lakh tonnes of wheat for the OMSS till March 2024. "The 26th e-auction was held on December 20 wherein 4 lakh tonnes wheat and 1.93 lakh tonnes rice was offered. In the e-auction, 3.46 lakh tonnes wheat and 13,164 tonnes rice was sold at a weighted average of Rs 2,178.24 per quintal for wheat and Rs 2905.40 per quintal for rice," an official statement said. To control the retail prices of rice, wheat and atta, the government is organising weekly e-auctions of both wheat and rice. The minim

Govt tightens stock limits on wheat to curb hoarding, check price rise

The government on Friday further tightened stock holding norms for wholesalers, retailers, big chain retailers and processors with immediate effect in order to curb hoarding and to check price rise. Briefing media, Food Secretary Sanjeev Chopra said the stock limit has been reduced to 1,000 tonnes from the existing 2,000 tonnes for traders/wholesalers. The stock limit will be 5 tonnes instead of 10 tonnes on each retailer, 5 tonnes for each depot of a big chain retailer and a total of 1,000 tonnes for all their depots, he said. In case of processors, they can hold 70 per cent of monthly installed capacity multiplied by the remaining months of 2023-24, he added. "This has been done to prevent artificial scarcity and curb hoarding. The revised stock limits will be applicable from immediate effect," Chopra said. The traders will get 30 days time to reduce the stock to the revised limits, he added. All wheat stocking entities are required to register on the wheat stock limit portal .

Climate-resistant wheat sown in almost 85% area this year, says survey

Acreage was around 19 million hectares till last week

Consumers feel relief as wheat product prices soften during festival month

Going forward, market players feel that prices would be guided somewhat by the pace of new crop sowing and also the trajectory of liquidation of wheat inventories by government agencies

Russian wheat export prices surged slightly last week, market calm

The Sovecon agriculture consultancy saw the price for the same class of wheat last week at $227-231 per ton FOB, down $2 from the week before

Minister flags off 100 vans for sale of 'Bharat' Atta at Rs 27.50/kg

Bharat Atta will be distributed by NCCF, NAFED, physical outlets of Kendriya Bhandar and also be made available at other cooperative and retail stores

Govt raises bid quantity to 200 tonne under OMSS wheat to stabilise prices

The government on Friday increased the bid quantity under the open market sale scheme for wheat offered from the central pool to 200 tonne with effect from November 1 as part of efforts to further stabilise prices of wheat and wheat flour. To boost supply of wheat in the domestic market, bulk buyers like flour millers, and small traders can now bid for 200 tonnes in e-auction as against 100 tonnes currently under Open Market Sale Scheme (OMSS). Food Corporation of India, the government's nodal agency for procurement and distribution of foodgrains, is offloading wheat from its buffer stock under the OMSS. Consequently, the total quantity offered per e-auction across the country has also been increased from 2 lakh tonne to 3 lakh tonne, the statement said. The increase in the bid quantity is aimed at enhancing the availability of wheat in the open market and to further stabilise the prices of wheat, it said. State-owned Food Corporation of India (FCI) is selling wheat and rice from

Centre may raise rabi crop MSP by 2-7% for 2024-25 marketing season

An official was quoted as saying that MSP for wheat and Masur in the next season could be hiked by around 7 per cent to Rs 2,275-2,300 and Rs 6,425-6,450 a quintal, respectively

Bumper harvest of Russian wheat halves world prices from wartime high

"There are not a lot of competitors for Russian wheat," said Helene Duflot, a grain-market analyst at Strategie Grains. "Russia is the price maker at the moment"

Central govt's restrictions on rice exports puts wheat and sugar in focus

The curbs on rice now cover all varieties that the South Asian nation ships to overseas markets, further tightening global supply

Wheat prices rise after Russian attack on Ukrainian Port on Danube river

The escalation of hostilities in the breadbasket region could compound trade disruptions, after Russia pulled out of the Black Sea grain deal last month

Govt to offload additional wheat, rice via open market to tame prices

On likely cut in wheat import duty, the government said it will take action based on the requirement as things are dynamic and evolving

Wheat prices jump to 6-month high on robust demand, limited supply

The government should release stocks from its warehouses into the open market to avoid potential shortages during the festive season, said a Mumbai-based dealer associated with a global trade house

As prices rise, wheat duty cut likely to come under the review again

The recent surge in wheat prices to Rs 2,500 per quintal has rekindled discussions about the potential reduction of import duty from 40% to zero