Page 6 - Wheat Prices

After wheat, retail price of rice rises 6.31% on supply concerns: Govt data

After wheat, rice prices are firming up on reports of supply concerns with the all India average retail price of the grain ruling higher by 6.31 per cent at Rs 37.7 per kg compared to the year-ago period, according to an official data. The All India average retail price of wheat has risen by over 22 per cent to Rs 31.04 per kg as of August 22 compared to Rs 25.41 per kg in the year-ago period, according to the data maintained by the Consumer Affairs Ministry. The average retail price of wheat flour (atta) has increased by over 17 per cent to Rs 35.17 per kg as against Rs 30.04 per kg in the year-ago period, the data showed. The rising trend in the retail price of rice is due to reports of likely drop in the country's production in view of 8.25 per cent lag in paddy sowing till last week in the ongoing kharif (summer) season. Considering the current lag in the paddy coverage, experts said the country's total rice production is likely to be lower than the set target of 112 million to

Deflating commodity costs to aid FMCG firms in H2FY23: Analysts

With commodity prices deflating from their March peak levels, analysts expect the margin profile across consumer goods companies to improve going ahead.

Pizza Hut adds rice bases to menu as wheat costs soar in Japan

The new range will initially be available for about six weeks, but could become a regular menu item if demand is strong

Seeking ways to cool domestic wheat prices, India could scrap import duty

India could scrap a 40% duty on wheat imports and cap the amount of stocks traders can hold to try to dampen record high domestic prices in the world's second biggest producer.

Grain of the matter

Govt's grain stock reduction is a good development

Govt procures 187.8 lakh tonnes of wheat so far at MSP costing Rs 37,852 cr

Food Corporation of India (FCI), nodal agency for procurement and distribution of foodgrains, has purchased 187.86 lakh tonnes of wheat so far at Minimum Support Price (MSP) for Rs 37,852.88 crore.

Edible oil prices ease; major brands cut MRP by Rs 10-15/litre: Govt

As per govt data, average retail prices of packaged edible oils have ease slightly, except for groundnut oil, across country since beginning of this month and are ruling between Rs 150 and 190 per kg.

UAE suspends exports and re-exports of Indian wheat for four months

UAE's economic ministry cited international developments that have affected trade flows as the reason behind the suspension

Too many flip-flops and about-turns

Policy rollbacks and modifications happening too frequently spook businessmen - both domestic and global

Global wheat prices up for 4th month straight after India bans export: FAO

The price of wheat has jumped in the international markets after India announced a ban on the export of the staple cereal and due to the reduced production prospects in Ukraine following the invasion

Prices of wheat, sugar, rice declining after govt measures: Food Secy

Retail prices of wheat, rice, sugar and edible oils are showing a declining trend after the measures taken by the govt, including curbs on exports of wheat and sugar, says Food Secy Sudhanshu Pandey

India in touch with Turkey on wheat consignment rejection: Food Secy

After India banned wheat exports on May 13, the secretary said five-six countries have requested for Indian wheat and the govt has formed a committee to clear the grain for export to such nations

India wheat output seen at 106.41 mn tonnes, 4.41% less than last estimate

Overall food grains production was estimated to be 314.51 million tonnes, more than the 310.74 million tonnes last year.

India's surprise wheat export ban traps 1.8 mt at ports, says report

Only exports backed by letters of credit (LCs), or payment guarantees, issued before May 13 can proceed before the ban takes effect, India has said

India's export ban fallout: International wheat prices hit record high

The price, which was already high in the wake of Russia's invasion of major wheat exporter Ukraine, jumped to €435 ($453) per tonne as the European market opened

Damaging India's credibility

Wheat export ban should have been avoided

Muted impact of wheat export ban on India's domestic food inflation: Nomura

If India's wheat ban leads to higher price of substitutes like rice, then there could be upward pressure on other food prices

Wheat prices soften after export ban, but high demand may limit downside

Traders say market is still biased towards demand; while this could come as some relief to the farmers, a major price spike in the months ahead seems unlikely

Wheat procurement deadline extended after export ban; quality norms eased

Till May 14, some 18 million tonnes of wheat have been bought for Central pool; that's 51% lower than the procurement during the same period last year

India restricting wheat exports could make world's food problems worse

India's decision to halt wheat exports came as a record-breaking heat wave parched the crop during a crucial period, spurring estimates of slumping yields.