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Wheat Rises Further In Rajasthan But Steadies In MP Due To Delay In Procurement

4 Mar 2021 3:39 pm
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NEW DELHI (Commodities control) Uncertainty regarding government’s procurement in Madhya Pradesh did not allow wheat prices to move up despite strong demand from private buyers. But wheat prices improved in Rajasthan and Gujarat. Steady trend was noted in Delhi and Uttar Pradesh mandis.



MP wheat is known for early harvesting and arrival in the country. Therefore, government’s procurement begins from mid of March. But this year government’s buying is getting delayed. Now, wheat procurement is not expected to begin even in April. If traders’ presumption is correct, MP government will be not able to start buying from April as they do not have sufficient jute bags. Procurement centres cannot start wheat buying at MSP of Rs. 1975 per quintal from farmers. Earlier, government’s buying was scheduled from 15 March but rescheduled to begin buying 22 March. Ultimately, it was decided to begin wheat buying from 1 April. But traders said that the government cannot start in the want of jute bags, so buying is expected to delay further.



Delays in government caused for stability in Wheat prices for last one week. Demand from stockists, millers and exporters were unable to boost market sentiments. A trader from Bhopal said that the government will buy wheat from farmers on MSP which is 225-275 per quintal higher than market prices. Wheat prices are expected to rise when the government will begin procurement. Delay in buying caused for stable price trend. New Wheat arrival reached to 1.5 lakh bags in Madhya Pradesh mandis.



New wheat arrival was limited to 1000-2000 bags in Rajasthan so last season's arrival was dominating in mandis. Old wheat was in demand from consumer industries, specifically flour millers as they have to use old wheat till May. Current prices are attractive if we compare to MSP. Wheat prices gained up to Rs. 25 per quintal in Rajasthan. Lower quality wheat increased by Rs. 50 per quintal in Rajkot mandis of Gujarat. According to traders, normally old what prices were bullish. But the prices decline if any mandi receive lower quality wheat. Delhi, Kanpur and Bareilly mandis also noted steady trend in wheat prices.


Market

Wheat Variety

04-Mar

03-Mar

Change

Delhi

Mill quality

1850-1860

1850-1860

0

Kota, Rajasthan

Mill quality

1625-1650

1620-1650

5

Duplicate Sharbati

1650-1700

1650-1690

10

Bundi, Rajasthan

Mill quality

1600-1625

1590-1620

10

Duplicate Sharbati

1650-1675

1625-1660

25

Baran, Rajasthan

Mill quality

1600-1625

1600-1625

0

Duplicate Sharbati

1650-1700

1650-1700

0

Rajkot, Gujarat

Mill quality (Bilty)

1800-1850

1750-1850

50

Indore, (M. P.) Bilty

Mill quality- New

1750-1775

1750-1775

0

Bhopal (M. P.) Loose

Mill quality- New

1700-1725

1700-1725

0

Kanpur (U.P.)

Mill quality-Ex Mill

1675-1685

1675-1685

0

Bareilly (UP)

Mill quality

1710-1720

1710-1720

0

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


       
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