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Speculation Spoils Wheat Trade Sentiments, Prices Down by Rs. 50/Q

25 Nov 2020 3:40 pm
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NEW DELHI (Commodities control) Speculation disrupted wheat market sentiments leading to price fall. Speculation regarding extension of PM Garib Kanyan yojna (PMGKY or free wheat distribution scheme) led to price fall in mill delivery wheat in across markets. The grain registered price fall of up to Rs. 50 per quintal in Rajasthan, Madhya Pradesh and Uttar Pradesh.


According to speculation, the government has extended PMGKY under which it provides free and subsidized wheat to poor consumers. It is over and above to regular food grain distribution to poor under PDS. However, there is no official communication regarding the news. The government sources, however, told us that the government was not going to extend the scheme.


But the rumour has spoiled market sentiments. Mill quality wheat lost up to Rs. 30 per quintal in Rajasthan mandis. The price dropped Rs. 50 to Rs. 15875-1600 per quintal in indore. Rajkot, Bhopal, Kanpur and Bareilly markets also witnessed down fall in wheat prices. However, the prices remained stable in Delhi. A Kanpur based trader Mr. Anil Gupta told us that such speculation may be a spoiler for short term, but the prices will recover until an official announcement by the government.


Commodity

Type/Variety

25-Nov

24-Nov

Change

Delhi

Wheat

Mill quality

1870-1880

1870-1880

0

Kota, Rajasthan

Wheat

Mill quality

1580-1610

1600-1630

-20

Wheat

Duplicate Sharbati

1675-1725

1675-1725

0

Wheat

PD

1640-1700

1640-1700

0

Bundi, Rajasthan

Wheat

Mill quality

1560-1580

1580-1610

-30

Wheat

Duplicate Sharbati

1675-1700

1675-1700

0

Wheat

PD

1670-1710

1670-1710

0

Baran, Rajasthan

Wheat

Mill quality

1580-1600

1600-1620

-20

Wheat

Duplicate Sharbati

1675-1750

1675-1750

0

Rajkot, Gujarat

Wheat

Mill quality

1650-1675

1680-1700

-30

Indore, (M. P.) Bilty

Wheat

Mill quality

1575-1600

1625-1650

-50

Bhopal (M. P.) Loose

Wheat

Mill quality

1425-1450

1450-1475

-25

Kanpur (U.P.)

Wheat

Mill quality

1620-1630

1640-1650

-20

Bareilly (UP)

Wheat

Mill quality

1650-1670

1660-1680

-10

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


       
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