Page 3 - Wheat Prices

Sowing hope: Nearly 54% jump in early wheat planting, shows data

However, this year, traders and market sources are hopeful that there could be a 10-15 per cent rise in wheat acreage

Centre raises wheat MSP by 5.46%; biggest hike kept for mustard, lentils

The government on Tuesday hiked the minimum support price for wheat by Rs 110 to Rs 2,125 per quintal and mustard by Rs 400 to Rs 5,450 per quintal for the current crop year with an aim to boost production and income of the farmers. The decision to increase the MSPs (minimum support prices) was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. MSP is the rate at which the government buys grain from farmers. Currently, the government fixes MSPs for 23 crops grown in both Kharif and rabi seasons. Sowing of rabi (winter) crops begins in October, immediately after the harvest of kharif (summer) crops. Wheat and mustard are major rabi crops. According to an official release, the CCEA has approved an increase in MSPs for six rabi crops for the 2022-23 crop year (July-June) and the 2023-24 marketing season. Wheat MSP has been increased by Rs 110 to Rs 2,125 per quintal for this crop year from Rs 2,015 per quintal in the 2021-2

Wheat price rise normal; have enough stocks to meet demand: Govt

According to FCI, the wheat stock in Central pool on April 1 next year is expected to be 11.3 million tonnes, higher than the buffer requirement of 7.5 million tonnes

Mustard gains in initial rabi sowing, markets bullish on wheat

Wheat is usually sown in around 31 million hectares, mostly in the northern belt

Prices of wheat continue to soar despite govt's price control measures

Despite government's effort to check the spiralling prices of essential kitchen commodities, the average retail prices of these items including wheat continue to rise

World food price index fell for sixth consecutive month in September: FAO

FAO's cereal price index rose 1.5 per cent month-on-month in September, with wheat prices climbing 2.2 per cent

Wheat prices head north with the advent of 'Navratri' festivities

Trade and market sources said wheat prices in wholesale markets of Delhi have risen by around Rs 40 per quintal since September 1

Centre restricts wheat flour exports to stabilise soaring local prices

India's cabinet approved a policy to restrict wheat flour exports to calm prices in the local market, the government said in a statement

After wheat, retail price of rice rises 6.31% on supply concerns: Govt data

After wheat, rice prices are firming up on reports of supply concerns with the all India average retail price of the grain ruling higher by 6.31 per cent at Rs 37.7 per kg compared to the year-ago period, according to an official data. The All India average retail price of wheat has risen by over 22 per cent to Rs 31.04 per kg as of August 22 compared to Rs 25.41 per kg in the year-ago period, according to the data maintained by the Consumer Affairs Ministry. The average retail price of wheat flour (atta) has increased by over 17 per cent to Rs 35.17 per kg as against Rs 30.04 per kg in the year-ago period, the data showed. The rising trend in the retail price of rice is due to reports of likely drop in the country's production in view of 8.25 per cent lag in paddy sowing till last week in the ongoing kharif (summer) season. Considering the current lag in the paddy coverage, experts said the country's total rice production is likely to be lower than the set target of 112 million to

Deflating commodity costs to aid FMCG firms in H2FY23: Analysts

With commodity prices deflating from their March peak levels, analysts expect the margin profile across consumer goods companies to improve going ahead.

Pizza Hut adds rice bases to menu as wheat costs soar in Japan

The new range will initially be available for about six weeks, but could become a regular menu item if demand is strong

Seeking ways to cool domestic wheat prices, India could scrap import duty

India could scrap a 40% duty on wheat imports and cap the amount of stocks traders can hold to try to dampen record high domestic prices in the world's second biggest producer.

Grain of the matter

Govt's grain stock reduction is a good development

Govt procures 187.8 lakh tonnes of wheat so far at MSP costing Rs 37,852 cr

Food Corporation of India (FCI), nodal agency for procurement and distribution of foodgrains, has purchased 187.86 lakh tonnes of wheat so far at Minimum Support Price (MSP) for Rs 37,852.88 crore.

Edible oil prices ease; major brands cut MRP by Rs 10-15/litre: Govt

As per govt data, average retail prices of packaged edible oils have ease slightly, except for groundnut oil, across country since beginning of this month and are ruling between Rs 150 and 190 per kg.

UAE suspends exports and re-exports of Indian wheat for four months

UAE's economic ministry cited international developments that have affected trade flows as the reason behind the suspension

Too many flip-flops and about-turns

Policy rollbacks and modifications happening too frequently spook businessmen - both domestic and global

Global wheat prices up for 4th month straight after India bans export: FAO

The price of wheat has jumped in the international markets after India announced a ban on the export of the staple cereal and due to the reduced production prospects in Ukraine following the invasion

Prices of wheat, sugar, rice declining after govt measures: Food Secy

Retail prices of wheat, rice, sugar and edible oils are showing a declining trend after the measures taken by the govt, including curbs on exports of wheat and sugar, says Food Secy Sudhanshu Pandey

India in touch with Turkey on wheat consignment rejection: Food Secy

After India banned wheat exports on May 13, the secretary said five-six countries have requested for Indian wheat and the govt has formed a committee to clear the grain for export to such nations