Wheat Report

With the arrival of new wheat increasing in Rajasthan and Madhya Pradesh, wheat procurement for the central pool has crossed 16 million metric tons, significantly higher than last year. While there is currently pressure on wheat supply in Punjab and Haryana, the government is actively procuring wheat at Minimum Support Price (MSP) with additional bonus incentives in Madhya Pradesh and Rajasthan, resulting in substantial stock accumulation. The procurement target for Madhya Pradesh is set at 6 million metric tons, while Punjab aims to procure 12.5 million metric tons, and Haryana has a target of 7 million metric tons. Current market prices in Rajasthan and Madhya Pradesh are favorable for procurement, making it a profitable opportunity. In contrast, wheat prices in Bihar and Punjab are relatively high at the moment, so it would be prudent to wait for better arrivals in those regions before making large-scale purchases.

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