Page 3 - Wheat Prices

Chicago wheat falls after Russian attack on Ukraine port renews worries

The most-active wheat contract on the Chicago Board of Trade (CBOT) fell 15 cents at $6.37-1/4 a bushel by 10:15 a.m. (1615 GMT), its lowest since July 13 after earlier rising nearly 5%

Govt says retail wheat and rice prices firm again increased in July

The retail prices of wheat and rice have again increased to Rs 29.59 per kilogramme and Rs 40.82 per kg, respectively in July, Parliament was informed on Wednesday. Minister of State for Consumer Affairs, Food and Public Distribution Sadhvi Niranjan Jyoti, in her written reply to the Lok Sabha, said the retail prices of wheat and rice are continuously changing and the government is closely monitoring the prices. The average retail price of wheat in January was Rs 31.58 per kg, which reduced to Rs.28.74 per kg in May. Thereafter, the average retail price of wheat has again increased to Rs 29.59 per kg in July, she said. In case of rice too, the average retail price has increased to Rs 40.82 per kg in July from Rs 38.09 per kg in January. The minister said the government has taken various steps from time to time to augment domestic availability and stabilize the prices of essential food commodities. These steps, inter-alia, include releases of wheat and rice under OMSS(D) from the .

Wheat prices in Delhi soften after stock limit, but pulses yet to fall

In some centres, wheat wholesale prices have gone up even after the stock-holding limits were imposed

Govt likely to cut import duty if needed to cool down wheat prices

The maximum intervention that the FCI has undertaken through open market sales in the past few years hasn't been more than 7 mt in a fiscal year

Centre stops sale of rice, wheat under OMSS to state to check price rise

The Centre has discontinued the sale of rice and wheat from the central pool under the Open Market Sale Scheme (OMSS) to state governments, a move that will hit some states, including Karnataka, offering free grains to the poor. This decision has already been conveyed to the Karnataka government, which had sought 13,819 tonne of rice for its own scheme under the OMSS without e-auction for July at the rate of Rs 3,400 per quintal. According to a recent order issued by the Food Corporation of India (FCI), "The sale of wheat and rice under the OMSS(domestic) for state governments is discontinued". However, the sale of rice under the OMSS will be continued for northeastern states, hilly states and states facing law and order situations, natural calamities at an existing rate of Rs 3,400 per quintal, it said. FCI may liquidate rice under the OMSS to private parties from the central pool stock as per the requirement in order to moderate the market prices, it added. On June 12, the centr

Wheat prices rise following collapse of major dam in southern Ukraine

The collapse of a major dam in southern Ukraine sent global prices of wheat and corn higher. Wheat prices gained 2.4% in early trading Tuesday at the Chicago Mercantile Exchange, to $6.39 a bushel. The cost of corn rose more than 1% (to $6.04 a bushel) and oats gained 0.73% ($3.46 per unit). Prices had jumped higher earlier in the day. The destruction of Kakhovka dam and hydroelectric power station, which sits on the Dnieper River in an area that Moscow controls, raised anxiety about a potential disruption to global supplies. There are massive agricultural fields in Southern Ukraine where the dam burst. Andrey Sizov, managing director of Black Sea agricultural markets research firm SovEcon, said the dam's collapse looks like a big escalation with dire consequences and huge headline risk. This could be just the start of the bull run, Sizov wrote on Twitter. Wheat prices have been falling throughout the year. Citi commodities analysts said Tuesday's incident is a reminder of ling

Wheat procurement up 42%, Madhya Pradesh extends sale window

Earlier, the farmers were allowed to sell wheat in some divisions till May 12 and for the others it was till May 15

Farmers protest against Centre's value cut on broken wheat grains in Punjab

Farmers in Punjab squatted on railway tracks at many places in the state as part of their four-hour 'rail roko' agitation against the value cut announced by the Centre on shrivelled and broken wheat grains due to untimely rains. The protest impacted the movement of many trains and caused inconvenience to passengers. Several farmer bodies including Bharti Kisan Union (Ekta Ugrahan) and BKU (Lakhowal) had announced that they would block rail tracks from 12 noon to 4 pm. Protesters squatted on rail tracks in many places including Ludhiana, Amritsar, Bathinda, Ferozepur, Sangrur, Fazilka, Gurdaspur and Tarn Taran. In some places, the protesting farmers even put up tents on the rail tracks. BKU (Ekta Ugrahan) general secretary Sukhdev Singh Kokrikalan on Tuesday said that farmers restored to the "rail roko" protest against the Centre for imposing the value cut on shrivelled and broken wheat grains for their procurement. He dubbed the government's decision "anti-farmer". In Ferozepur, a

Wheat export ban to continue to ensure adequate supplies in India: Goyal

The ban on exports of wheat will continue as India has to ensure adequate supplies of the foodgrain for its domestic market and keep the inflation at check, Union minister Piyush Goyal said on Thursday. He said that the procurement of wheat has started and the numbers for the first week of buying are "very" satisfactory. "I could believe that we will have a good harvest despite the unseasonal rains...We do believe that we will have to ensure adequate supplies for the Indian market and once the procurement period is over, we believe that it will be important that inflation is also contained in the country and therefore it is important that the wheat exports continue to remain banned," the commerce and industry and consumer affairs, food and public distribution minister told reporters here. He is here on a two-day visit to meet leaders and businesses in order to enhance economic ties between India and Italy. India, the world's second-largest wheat producer, banned wheat exports in Ma

March retail inflation number may reflect drop in wheat prices

Data shows that in Feb 2023 while WPI-wheat inflation dropped to 18.54%, CPI-wheat inflation for the same month rose from 25.05% in January 2023 to 25.37% in Feb

How wheat prices moved after FCI began liquidating stocks via open tenders

Millers see CPI inflation for atta reducing more sharply going ahead, as prices have already started softening at the mill gate

Govt says wheat crop condition 'normal' so far; plans to procure 34.1 mt

Sources said that the target is flexible and will depend on the quantum of wheat that arrives in the mandis

War in Ukraine: How one year of conflict changed geopolitics and economics

Friday marks the one-year anniversary of the Russia-Ukraine war, have a look at how the conflict that nobody believed would last this long changed the world

Govt to offload 2 million tonnes more wheat in open market to cool prices

The proposal to add wheat stocks in the open market was taken by a group of ministers, sources said

Wheat prices drop by 20% since FCI's open sale scheme, shows data

Going forward, prices will depend on wheat crop production following the sudden sharp increase in temperature across several parts of North and Central India

Govt further cuts reserve price of FCI wheat to Rs 2,150 per quintal

States are allowed to purchase wheat from FCI for their own scheme at the proposed reserve prices without participating in e-auction

FCI sells 385,000 tonnes wheat in open market via e-auction, control prices

Food Corporation of India (FCI) sold 3.85 lakh tonnes of wheat to bulk consumers in the second round of e-auction, as part of its efforts to boost domestic supplies and control prices of wheat and atta (wheat flour). Last month, the government announced plans to sell 30 lakh tonnes of wheat in the open market from its buffer stock under the Open Market Sale Scheme (OMSS). Out of the 30 lakh tonnes, the Food Corporation of India will sell 25 lakh (2.5 million) tonnes to bulk consumers like flour millers through e-auction and 2 lakh tonnes will be given to states/union territories. As much as 3 lakh tonnes of wheat are being provided to institutions and state PSUs at a concession for converting wheat into wheat flour. "More than 1,060 bidders participated and 3.85 LT (lakh tonnes) wheat was sold during the second e-auction organised by the Food Corporation of India (FCI) on February 15," an official statement said. FCI, the government's nodal agency for procurement and distribution o

Climbing wheat prices take cereal inflation to a high of 16.12% in Jan

Some delay in offloading central wheat stocks causes spike

Govt to offload 30 mn MT wheat to cool down prices via open market disposal

the government takes various steps from time to time to augment domestic availability and control increasing food prices

Average price of wheat flour rose by 31% in 2018-22 period: Centre

Average price of wheat flour rose by 31 per cent and mustard oil by 71 per cent between 2018 and 2022, the government told the Rajya Sabha on Friday. In a written reply, the government shared the average retail prices of about two dozen essential commodities. According to the data, wheat prices rose by 25 per cent since 2018 while the rates of rice increased by 23 per cent in the last five years. In a written reply, Minister of State for Food and Consumer Affairs Sadhvi Niranjan Jyoti shared the "year-wise all-India average retail prices of 22 commodities, including atta (wheat flour), rice, onion and potato for the last five years". The minister noted that the government takes various measures from time to time to augment domestic availability and stabilise the prices of essential food commodities. "These steps, inter-alia, include releases from the buffer to cool down prices, imposition of stock limits, monitoring of stocks declared by entities to prevent hoarding as also requis