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Wheat Gains In Kanpur On Better Demand, Prices Likely To Remain Firm

22 Oct 2020 5:43 pm
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NEW DELHI (Commodities control) Wheat traders do not expect down fall in prices, this season. Due to recovery in economic activities, there is barely any hope for extension of free and highly subsidized wheat and rice distribution in the country. However, wheat prices remained stable in all the mandis except Kanpur where the prices improved by Rs. 10 per quintal.

A trader from Kota mandi Mr. Uttam Jethwani told us that now the economic activities are picking up. The government also clarified it’s approach on covid-19 and economy. Therefore, the government is unlikely to extend free wheat and rice distribution. This scheme disrupted wheat trade and prices in open market.

Primarily, wheat demand dried up as more than half of the Indian population is receiving free or subsidized grains through PDS. Additionally, free wheat diverted by the consumers and through corrupt channels also disturbed wheat. The traders and millers had purchased wheat around Rs. 1900 per quintal (MSP 1925) but the prices fell down as low as Rs. 1450 per quintal. Farmers, who held up their wheat crop in harvesting season also could not get expected prices.


But the market expects improvement in prices because free grain distribution will end in November. If the government does not extend the scheme, the prices will move up. Mill quality wheat gained Rs. 10 to Rs. 1620-1625 per quintal.


Commodity

Type/Variety

22-Oct

21-Oct

Change

Delhi

Wheat

Mill quality

1770-1780

1770-1780

0

Kota, Rajasthan

Wheat

Mill quality

1620-1630

1620-1630

0

Wheat

Duplicate Sharbati

1700-1780

1700-1780

0

Wheat

PD

1650-1700

1650-1700

0

Bundi, Rajasthan

Wheat

Mill quality

1615-1640

1615-1640

0

Wheat

Duplicate Sharbati

1740-1800

1740-1800

0

Wheat

PD

1640-1660

1640-1660

0

Baran, Rajasthan

Wheat

Mill quality

1600-1625

1600-1625

0

Wheat

Duplicate Sharbati

1700-1750

1700-1750

0

Rajkot, Gujarat

Wheat

Mill quality

1625-1650

1625-1650

0

Indore, (M. P.) Bilty

Wheat

Mill quality

1625-1630

1625-1630

0

Bhopal (M. P.) Loose

Wheat

Mill quality

1500-1550

1500-1550

0

Kanpur (U.P.)

Wheat

Mill quality

1620-1625

1610-1620

10

Bareilly (UP)

Wheat

Mill quality

1620-1630

1620-1630

0

(By Commoditiescontrol Bureau: +91-22-40015505)


       
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