Wheat Price: Chances of rise in wheat prices remain, know what is the rate in the market

Mr journalist news, latest Wheat Price: Despite the government procurement of wheat coming near, its price has not reduced yet. The minimum support price (MSP) of wheat has been fixed at Rs 2275 per quintal, while its current price in the open market is Rs 2400 to Rs 2500 per quintal. According to the National Agricultural Market (e-NAM), the price of wheat is higher than the MSP in most of the mandis of Uttar Pradesh.

In such a situation, the hope is that farmers will prefer to sell wheat to the private sector this year instead of the government. Uttar Pradesh is the largest producer of wheat, but since 2022, due to the price being higher than the MSP, government procurement here has reduced significantly. Looking at the current prices, this time also less government procurement is being estimated.

To reduce the price of wheat, the central government is selling wheat to millers and private sector at cheaper rates than the market under the Open Market Sale Scheme (OMSS). Under this scheme, more than 60 lakh tonnes of wheat has been sold at cheaper rates, but till now no significant impact of this scheme is visible on the price of wheat and flour in retail. 

Apart from this, there is a ban on export of wheat from May 13, 2022, so that the price comes down. Farmers have suffered losses due to both these decisions of the government. Despite causing losses to farmers, consumers are neither getting cheap wheat nor flour.

What is the retail price?

According to the Price Monitoring Division of the Ministry of Consumer Affairs, the average price of wheat in the country on March 17 was Rs 30.88 per kg. The maximum price was Rs 54, minimum Rs 21 and model price Rs 25 per kg. The retail price of wheat in Delhi was Rs 29 per kg. 

The price in Gujarat was Rs 40 per kg. The price per kg is Rs 28.25 in Madhya Pradesh and Rs 39.47 in Maharashtra. Haryana is a major wheat producer but the retail price here is Rs 26 per kg. In such a situation, it is expected that adequate government procurement will not be possible this time. 

Last year, the government had set a target of purchasing 341.5 lakh tonnes of wheat, whereas only 262 lakh tonnes could be purchased. The government has set the target of wheat procurement at 320 lakh tonnes in the year 2024-25.

What is the price on e-name?

According to the National Agricultural Market (e-NAM), an online trading platform under the Central Government, on March 17, the new minimum price in Kasganj Mandi of Uttar Pradesh was Rs 2,500 and the maximum price was Rs 2,510 per quintal. 

The minimum price of wheat in Konch Mandi of Jalaun district was Rs 2,402 per quintal. Whereas in Jalaun Mandi the price was Rs 2,421. The price of wheat in Malpura Mandi of Rajasthan was Rs 2,445 per quintal.