Wheat - Sell at Increased Prices
The government has planned to import wheat, but due to a lack of stock in the central pool that meets the target, there is no pressure on the market, and prices are rising due to competitive buying by stockists. The government's estimate of production this year is expected to increase from 10.90 million metric tons to 11.21 million metric tons. Despite this, old stock is not remaining in warehouses, leading private sector traders to continue buying. On the other hand, the government has only managed to purchase 2.67 million metric tons out of its target of 3.72 million metric tons. In the current week, prices in Delhi have increased by ₹25/30 to ₹2,795/2,830 per quintal. Therefore, it is advisable to sell the goods now, but with arrivals falling in the markets, further downturns are not expected.