login_img.jpg
Login ID:
Password:
Partner Login
Contact Us : 7066511911

Wheat Prices Rise on Government Sales Halt, Weather Concerns

26 Feb 2024 7:05 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai, 16 Feb 2024 (Commoditiescontrol):Wheat prices strengthened today following the government's announcement to end its Open Market Sale Scheme (OMSS) in northern states after March 1. The decision has prompted millers to increase stockpiling. Adding to the bullish sentiment, the India Meteorological Department (IMD) has warned of a fresh western disturbance that could potentially damage wheat crops in key producing regions like Rajasthan and Uttar Pradesh.

In Delhi, wheat prices rose by INR 25 per quintal to reach INR 2525 per quintal. Gujarat saw steady prices, with new wheat trading between INR 2500-2520 per quintal. Rajasthan wheat gained INR 10 per quintal to trade at INR 2520 per quintal.

Uttar Pradesh wheat prices strengthened at INR 2500 per quintal, while South-UP line traded robustly at INR 2920 per quintal. Madhya Pradesh wheat prices held at INR 2550 per quintal, with South-MP line trading at INR 2875 per quintal. Improved demand for maida in southern India due to the wedding season is being somewhat offset by increasing new wheat arrivals in Madhya Pradesh.

Analysts anticipate marginally firmer prices in the near term, though weakness is expected in the short term once peak arrivals commence around March 15.

(By Commoditiescontrol Bureau; +91-9820130172)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Post Comment  

Latest Market Commentary
CBOT Wheat Futures Plummet to Two-Month Low Amid U.S. H...
CBOT Wheat Futures Drop to Six-Week Low Amid Accelerati...
CBOT Wheat Futures Soften On Production Adjustments, We...
Maize Prices Remain Steady Amid Mixed Market Outlook
Wheat Prices Steady to Firm Amid Positive Market Sentim...
more
Top 5 News
Cotton Prices Decline in Maharashtra on Weak Demand; Da...
CNF Chennai Port Burma Prices In $
Cotton Prices Weaken in Lower Rajasthan Amid Spinning M...
Global Market Impact Felt in Gujarat's Cotton Market as...
India's Oilmeal Exports Drop 31% in May; SEA Urges Lift...
Top 5 Special Reports
Weekly: ICE Sugar Futures Revived By ISO's Global Defic...
Weekly: Cotton Prices Slide for Third Consecutive Week ...
India Plans Boost in Arhar and Urad Dal Production to T...
US soybean net sales for May 31-June 6 at 377,100 MT, u...
US cotton net export sales for May 31-June 6 at 177,100...
Copyright © CC Commodity Info Services LLP. All rights reserved.