New crop arrives, wheat prices fall
The increasing arrival of wheat in the domestic market is now clearly showing its impact. Prices in mandis are declining day by day as the supply of the new crop continues to put pressure on the market. On Wednesday as well, prices in most markets either remained stable or showed a slight decline due to rising supply and weak demand. In Gujarat mandis, daily arrivals are reaching around 15,000 to 25,000 bags, which has pushed prices down to about ₹2,150�₹2,250 per quintal, while delivery rates at Kandla are holding around ₹2,325 per quintal. In North India, the pressure is also evident�prices in Delhi�s Lawrence Road dropped by ₹10 to ₹2,600 per quintal. Rates were reported at ₹2,500 in Samastipur, ₹2,610 in Alipur, ₹2,320 in Dahod, ₹2,520 in Bikaner, ₹2,350 in Indore, and ₹2,310 in Ujjain per quintal. In Rajasthan, a further decline of ₹50�₹75 per quintal is expected. In Uttar Pradesh, wheat prices are stable at around ₹2,510 per quintal. Southern markets are relatively balanced, with Bengaluru prices holding near ₹2,700 per quintal, and forward delivery for April also being quoted around the same level. In Eastern India, the Kolkata market is steady at around ₹2,650 per quintal. Traders there are waiting for a decision on export permission to Bangladesh, as approval could lead to a price recovery. Currently, the gap between MSP and mandi prices is slowing down farmer selling to some extent, but arrivals are expected to increase further in the next 1�2 weeks, which may intensify the downward pressure. Additionally, potential disruptions in LPG supply could weaken demand from the hotel and restaurant sector, adding further pressure on the market. Overall, while there is some buying activity, large-scale aggressive stocking is still absent. As peak arrival season progresses, wheat prices are likely to remain stable to weak in the near term.