New Delhi, June 26 (Commoditiescontrol): Wheat prices traded with stability to slight gains across major centers on Wednesday, as sellers showed reluctance to accept lower rates. Previously, prices had dipped following government measures imposing stock limits on wheat. Today, Delhi witnessed an increase of INR 20-30 per quintal, settling at INR 2680 per quintal.
Similar trends were observed in Rajasthan, where prices held steady at INR 2650-2660 per quintal, and Bengaluru, maintaining stability at INR 2900 per quintal (net). In Madhya Pradesh, prices remained unchanged at INR 2610-2620 per quintal ex-warehouse, while Uttar Pradesh saw a modest rise to INR 2560 per quintal, up by INR 10. Uttarakhand reported steady prices at INR 2580 per quintal, whereas Gujarat recorded an increase of INR 20, reaching INR 2660-2670 per quintal.
Kolkata's market held firm at INR 2740-2750 per quintal, while Bihar maintained stability at INR 2550-2560 per quintal. In Goa, mill-delivered rates were unchanged from the previous session, standing at INR 2890 per quintal.
Stockists, having anticipated the imposition of stock limits, had already accumulated wheat stocks below 3000 tons, reducing the potential impact of the government's measures on prices. Active purchases from Etah mandi, aimed at Bengaluru deliveries at INR 2900 per quintal, indicate ongoing demand from southern markets, suggesting a potential recovery in wheat prices in the near term.
Although south mills have adjusted prices downward by INR 30 per quintal post-stock limit imposition, current selling activity remains subdued. Despite these market adjustments, stockists show no signs of panic, and the overall outlook suggests a likely recovery in wheat prices in the short term.
Historically, when wheat prices have risen significantly, the government has intervened with measures such as the recent stock limits. Looking ahead, as wheat prices potentially rise again in the coming days, additional government actions, such as OMSS (Open Market Sale Scheme) or adjustments to import duties, could be implemented to stabilize prices, tempering the possibility of sharp price increases in the near to medium term.
(By CommoditiesControl Bureau: +91-9820130172)
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