Millet - Prices up due to demand
Due to increasing pressure of late crop of millet, there has been a correction of Rs 25/30 per quintal and some more market may be suppressed, but due to reduced prices, business will be very profitable in future. Bajra crop has started arriving rapidly in Etawah, Etah, Mainpuri and Prayagraj lines. There, millet is being traded from the mandis in Haryana and Punjab at the price of Rs 2275/2300 per quintal. This time the rainfall has reduced due to the effect of El Nino. This is the reason why the production of millet has been very good. Last year millet was produced around 135-136 lakh metric tonnes, which is estimated to be 164-165 lakh metric tonnes this time. Recently, millet has been sold below Rs 2200 in Haryana and Punjab, but due to the government's purchase at Rs 2500 per quintal in Haryana and Rajasthan, the market had increased. Currently, due to increase in arrivals in the producer markets, prices remain at Rs 2050/2075. The reality is that the consumption of millet remains widespread in poultry-cattle feed and distillery plants. On the other hand, this time more millet is being consumed among the food grains. There is an all-round demand for mixing wheat flour, because in the opinion of health experts, consumption of millet in food grains will automatically eliminate many diseases. There will be further arrival pressure in the markets for at least 20-25 days, due to which there may be a softening of Rs 25-50 per market, but purchases should be made without waiting for further decline. At present, apart from Haryana and Punjab, there is demand in the markets of Rajasthan as well, whereas in UP too the consumption of millet has increased all round. On the other hand, along with MP, people of South India are also purchasing millet and there is a continuous demand in Punjab. Hence, there is no risk at the current price.