Page 5 - Wheat

Govt hikes wheat MSP by Rs 150 per quintal to Rs 2,275 for 2024-25

Ahead of assembly polls in key wheat growing states, the government on Wednesday announced an increase in the minimum support price (MSP) of wheat by Rs 150 to Rs 2,275 per quintal for the 2024-25 marketing season. This is the highest increase by the Narendra Modi-led government since it came to power in 2014. A decision in this regard was taken in the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Modi. Currently, the MSP on wheat stands at Rs 2,125 per quintal for the 2023-24 marketing season (April-March). Briefing media, I&B minister Anurag Thakur said the CCEA has approved the increase in the MSP for all mandated rabi crops for 2024-25 marketing season. "Based on the CACP recommendation, we have increased the MSP of six rabi crops. Wheat MSP has been increased by Rs 150 per quintal," he said. The support price of wheat has been increased to Rs 2,275 per cent quintal for 2024-25 marketing season, from Rs 2,125 per quintal in 2023-24, he

Indian wheat prices at 8-month high on festival demand, tight supply

Wheat prices in New Delhi jumped by 1.6% on Tuesday to 27,390 rupees ($329) per metric ton, the highest since Feb. 10. Prices have surged by nearly 22% over the past six months

Wheat tops two-week high on global demand, traders eye Middle East

Corn futures eased as traders monitored the U.S. harvest, while gains in soyoil futures helped lift the soybean market, analysts said

FCI sells 189,000 tonne wheat, 5,000 tonne rice in 15th weekly e-auction

State-owned Food Corporation of India (FCI) sold 1.89 lakh tonne of wheat and only 5,000 tonne of rice to bulk consumers like flour millers in the 15th weekly e-auction held on Wednesday. Wheat and rice are being sold under the Open Market Sale Scheme (OMSS) to bulk users to improve the domestic availability and cool down retail prices. According to the food ministry, about 1.89 lakh tonne of wheat was sold in the weekly e-auction held on October 4 against 2.01 lakh tonne offered. However, FCI continued to get lukewarm response for weekly e-auction of rice under OMSS with traders purchasing just 5,000 tonne of grains against 4.87 lakh tonne offered. Wheat and rice were sold to 2,255 bidders during the e-auction. Around 2,447 empanelled buyers participated for both wheat and rice, the ministry said in a statement. The weighted average selling price was Rs 2,185.05 per quintal for fair and average quality (FAQ) wheat against the reserve price of Rs 2,150 per quintal, while the weigh

Rabi season: Govt aims 60% of wheat area under climate resilient varieties

Ahead of rabi sowing from next month, the Centre on Tuesday said it targets to bring 60 per cent of the total wheat area of 30 million hectare under the climate-resistant varieties amid strong El Nino conditions. Despite the challenges of climate change, the Union Agriculture Ministry has kept a target of achieving a record wheat output of 114 million tonne in the 2023-24 rabi season against the actual output of 112.74 million tonne in the year-ago period. Sowing of wheat, the main rabi (winter) crop, begins in October, while harvesting starts in March/April. Addressing a national conference held to chalk out a strategy for sowing rabi (winter) crops, Agriculture Secretary Manoj Ahuja said: "There are certain changes in climate change, which is affecting agriculture. Our strategy is climate resilient seeds". Faced with a heatwave in 2021, the government encouraged farmers in 2022 to go for heat-tolerant wheat varieties in 47 per cent of the total wheat acreage of 30 million ...

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"

Supply of wheat, rice, sugar & edible oils adequate, says Food Secy

Retail prices of key essential food items, especially wheat, rice, sugar, and edible oil prices, are unlikely to see any sharp upswing in the upcoming festival season as the country has adequate supply and the government is keeping a close vigil on hoarders, Food Secretary Sanjeev Chopra said on Thursday. "So my analysis is that in the next upcoming festive season, I do not see any kind of a sharp upswing in prices of the commodities that we deal with whether it is wheat or rice or sugar or edible oils," Chopra told reporters. The government is taking "corrective action" whenever it's required. For instance, the stock limit was further reduced to 2,000 tonnes for traders, wholesalers, and big chain retailers with immediate effect amid an uptick in prices, he said. He also said there is an adequate supply of wheat, rice, sugar, and edible oils in the country. On sugar, the secretary said although sugar prices are holding stable, due to some rumours of likely shortage due to lower ..

India has no immediate plan to scrap import duty on wheat: Official

New Delhi was considering cutting or even abolishing a 40% import tax on wheat as part of efforts to boost supplies, a government official said last month

Govt further cuts stock limit on wheat traders, retailers amid price rise

The government on Thursday further reduced the stock limit on wheat traders, wholesalers and big chain retailers to 2,000 tonnes from 3,000 tonnes with immediate effect amid uptick in prices. Announcing the decision, Food Secretary Sanjeev Chopra said: "Keeping in view of recent uptick in the prices, we have had a review of the stock limits and effective today the stock limit on traders, wholesalers and big chain retailers stand reduced to 2000 tonne." Three months back on June 12, the government had imposed a stock limit of 3,000 tonnes on these wheat players till March 2024. The stock limit has been reduced to 2,000 tonnes as the government found there is an "an uptick in the wheat prices on the NCDEX by 4 per cent to Rs 2,550 per quintal in the past one month." "Although there is adequate availability of wheat in the country, I think there are some elements which are trying to create some artificial scarcity," Chopra told reporters.

India sent 50,000 MTs of wheat, 28 tonnes of disaster relief to Afghanistan

Amid worsening humanitarian situation in Afghanistan, India said it delivered 50,000 MTs of wheat, 28 tons of disaster relief and 200 tons of medicines, vaccines and other medical items to the country

FCI sells 166,000 tonnes wheat, only 17,000 tonnes rice via 11th e-auction

State-owned Food Corporation of India (FCI) has sold 1.66 lakh tonnes of wheat and only 17,000 tonnes of rice from the central pool through 11th e-auction last week as part of the Open Market Sale Scheme (OMSS) to control retail prices. Last month, the government announced it will offload additional 50 lakh tonnes of wheat and 25 lakh tonnes of rice from the central pool in the open market to bulk buyer to contain cereal prices. The food ministry, in a statement, said in the 11th e-auction held on September 6, a total of 2 lakh tonnes of wheat from 500 depots and 4.89 lakh tonnes of rice from 337 depots were offered from across the country. "In the e-auction, 1.66 lakh tonne of wheat and 0.17 lakh tonne of rice was sold," it said. The weighted average selling price was Rs 2,169.65 per quintal for FAQ (fair and average quality) wheat against the reserve price of Rs 2,150 per quintal pan-India, whereas weighted average selling price of URS (Under Relaxed Specifications) wheat was Rs

India supplied 47,500 MT of wheat to Afghanistan since Taliban's takeover

Besides sending wheat, India has also been consistently providing medical and food assistance using land routes bordering Pakistan and the Chabahar Port in Iran

Wheat markets shrug off Black Sea flashpoints as exports flow: Report

Ukraine said the vessel stopped - the Sukru Okan - was Turkish. A person familiar with the matter said the ship was empty and had unloaded a corn cargo the previous day in Greece

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

India to offer 5 million tons wheat to bulk consumers to cool prices

The country has adequate stocks of wheat and rice which the government can release on the open market to stabilise prices, Food Secretary Sanjeev Chopra said

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

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%

DGTF invites applications for allocation of wheat quota exports to Bhutan

The government has invited applications from exporters to allocate quota for exports of wheat to Bhutan during 2023-24 on humanitarian and food security grounds. In a trade notice, the DGFT (Directorate General of Foreign Trade) has laid out a detailed procedure for allocation of quota for export of wheat, 'atta' and 'maida' on humanitarian and food security grounds, based on requests received from Bhutan. It said the government has approved export of 14,184 tonne of wheat grain; 5,326 tonne of wheat flour (atta); 15,226 tonne of maida to Bhutan in 2023-24. "Accordingly, applications are invited from exporters for allocation of quota," it said. As per the procedure, the minimum threshold for these products will be 100 tonne by land transport to the neighbouring country. "Application would be allowed only if the exporter applies for quantity more than the minimum threshold," it said. In a separate notification, DGFT said it has banned exports of de-oiled rice bran till November 30

Punjab approves revised process for wheat distribution to beneficiaries

The Punjab Cabinet on Saturday approved a revised mechanism for the distribution of packaged wheat flour or wheat at the doorsteps of beneficiaries by roping in fair price shop owners. The decision in this regard was taken by the council of ministers in a meeting chaired by Chief Minister Bhagwant Mann here, according to an official statement here. The distribution of 'atta' (wheat flour) or wheat shall be allowed in loose quantities, duly weighed, across the counter in ration depots (fair price shops) or in specially-sealed packets delivered at the doorstep of the beneficiary or the nearest motorable point, by the ration depot holder, said the statement. It will be a more dignified way of receiving packaged 'atta' as the beneficiary shall not be required to stand in long queues, especially in inclement weather conditions, it said. Last year, the AAP government's plans of starting home delivery of 'atta' was put on hold after the fair price shop owners moved the Punjab and Haryana

FCI sells 100,000 tn wheat, 100 tn rice in 5th e-auction to control price

State-owned Food Corporation of India (FCI) on Wednesday sold 1.06 lakh tonnes of wheat and 100 tonnes of rice in the 5th e-auction of 2023-24. In order to control the retail price of rice, wheat and atta, the FCI organises weekly e-auctions. The government is committed towards price stabilization and its market intervention is aimed at providing relief to the consumers, the food ministry said in a release. "A quantity of 1.16 lakh tonne wheat from 361 depots and 1.46 lakh tonne rice from 178 depots were offered from across the country," it said. The weighted average selling price was Rs. 2182.68/qtl for fair average quality (FAQ) wheat against the reserve price of Rs. 2150/qtl Pan India whereas weighted average selling price of URS wheat was Rs. 2173.85/qtl against the reserve price of Rs. 2125/qtl. The weighted average selling price was Rs. 3151.10/qtl for rice against the reserve price of Rs. 3151.10/qtl Pan India. In the current tranche of e-auctions, the reduction in retail