Wheat - Market to increase further

Wheat stock has become abundant in the mandis of UP, Haryana, Punjab, Rajasthan and Madhya Pradesh. On the other hand, after the rains of the last days, the harvesting of both early and late crops had increased simultaneously, but in the current week, the arrival in MP has decreased. Recently, due to increasing pressure of arrivals in the mandis, government procurement has been done more than the entire season of last year. So far procurement has crossed 265 lakh metric tonnes, but there is a possibility of falling short of the target. The government's procurement target is 341.50 lakh metric tonnes, which has stopped coming to the government counters due to the price rising to Rs 2300/2350 per quintal in the producer mandis. Here also the price has gone up to Rs 2510/2520 per quintal. On the other hand, seeing last year's high prices, traders of big and small mandis are stocking, these conditions will not allow last year's rise in wheat, but due to breaking of arrivals in producer mandis, there is a further increase of 25/50.

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