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Wheat Prices Increase Further On Domestic, Export Demand, Uptrend To Remain Intact

16 Jan 2021 4:30 pm
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NEW DELHI (Commodities control) Upward trend continued in wheat prices in vaious mandis of producing. Domestic as well as export demand penetrated in the market amid tight supplies in open market. As wheat prices were still below in open market than government’s issue price. Traders expect further upside trend as they see potential of further hike of Rs. 75-125 per quintal.



Mill quality wheat rose up to Rs. 35 per quintal in mandis of Hadouti region in Rajasthan. The prices jumped from Rs. 1690-1740 to Rs. 1725-1750 per quintal in Baran mandi. Kota mandi also registered price rise of Rs. 25 per quintal. Duplicate Sharbati (Tukdi or 4037) wheat also shot up Rs. 75 per quintal in Rajasthan mandis. Surprisingly, Wheat prices jumped Rs. 50 per quintal in Rajkot and touched government last year’s MSP of Rs. 1925 per quintal. Similarly, wheat prices inched up in Delhi, Bareilly, Kanpur and Indore.



According to traders from Rajasthan, exporters’ demand was main reason of price rise. They were buying wheat at Rs. 2050 per quintal (Ex Kandla port). Wheat jumped sharply in Rajkot just due to exporters’ buying. A trader from Bundi told that exporters were buying wheat at any price. They were increasing buying price as per rise in open market. They are exporting wheat to Bangladesh, UAE and other countries where Indian wheat is accepted. The priece inched up in Kanpur for the same reason. A trader from Kanpur told that there was aggressive buying in Kanpur market at Rs. 1800 per quintal for loading in train rake. A train rake (26000 quintal wheat) was scheduled to be shipped to Bangladesh via land route.



Domestic demand was also strong in all the market as supplies was reducing but demand was increasing. According to market sources, millers were buying wheat regularly as current price was still economical. The government has fixed wheat issue price at Rs. 2080 per quintal (FAQ Ex-Ludhiana) under OMSS so the prices were yet to touch peak.


Market

Wheat Variety

16-Jan

15-Jan

Change

Delhi

Mill quality

1950-1960

1940-1950

10

Kota, Rajasthan

Mill quality

1725-1750

1700-1750

25

Duplicate Sharbati

1800-1850

1740-1790

60

Bundi, Rajasthan

Mill quality

1725-1750

1700-1740

25

Duplicate Sharbati

1750-1825

1740-1760

65

Baran, Rajasthan

Mill quality

1725-1750

1690-1740

35

Duplicate Sharbati

1800-1875

1750-1800

75

Rajkot, Gujarat

Mill quality (Bilty)

1800-1925

1850-1880

50

Indore, (M. P.) Bilty

Mill quality

1800-1825

1750-1775

50

Mill quality-Danki

1750-1775

1700-1725

50

Bhopal (M. P.) Loose

Mill quality

1725-1735

1725-1735

0

Kanpur (U.P.)

Mill quality

1780-1790

1770-1780

10

Bareilly (UP)

Mill quality

1790-1800

1780-1790

10

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


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