Wednesday, February 8, 2023
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Wheat Prices: Boil in wheat prices! Stock left in government godowns is lowest in 6 years

Wheat Price Hike: The bread on your plate is going to be more expensive. A huge increase is being seen in the prices of wheat. Due to the increase in demand and decrease in inventory, a jump in the prices of wheat is being seen. At the same time, the stock of wheat in the godowns of the government has come down to the lowest level in 6 years. In such a situation, it is believed that till the arrival of the new crop in the market, the prices of wheat may continue to rise further.

Rise in wheat prices, flour also became costlier

Since May 2022, there has been a jump of 25 to 30 percent in the prices of wheat in the domestic market. Due to the rise in the prices of wheat, there has been a huge increase in the prices of flour. According to the data of the Ministry of Consumer Affairs, there has been a huge increase in the prices of wheat and flour. On December 13, the average price of wheat has come at Rs.32.02 per kg, the maximum price at Rs.48 per kg, the minimum at Rs.20 per kg and the modal price at Rs.28 per kg. On the other hand, the average price of flour has reached Rs.37.16 per kg, while the maximum price has reached Rs.66 per kg. The modal price is Rs 35 per kg and the minimum price is Rs 24 per kg.

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Wheat stock at 6 year low

On December 1, 2021, there was 37.85 million tonnes of wheat stock in the government godowns, which has come down to 19 million tonnes. Earlier, due to drought in 2014 and 2015, the stock of wheat in 2016 was 16 million tonnes. However, there is time for the new wheat crop to enter the market. In such a situation, controlling wheat prices can prove to be a big challenge for the government. So it is not going to be easy for the government to take a decision to sell wheat in the market to rein in the prices due to shortage of stock in the godowns of the government.

bumper sowing of wheat crop

Wheat crop has been sown in 25.6 million hectares this season, which is 25.4 percent more than last year. But the new crop is expected to hit the market only after April 2023.

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