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Wheat Declines by up to Rs 30/quintal in Bihar, MP, UP amid Free Ration Scheme Pressure

27 Nov 2021 7:51 pm
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NEW DELHI, Nov 27 (Commoditiescontrol) - Wheat prices fell by Rs 30 per quintal in the mandis of Madhya Pradesh, Uttar Pradesh and Bihar on Saturday due to weak demand. Since the government announcement to extend PM Garib Kalyan Anna Yojana till March 2022, the sentiment in the market has remained weak. Market is also under pressure due to weak procurement by the mills. It is believed that the pressure on the price of wheat will continue for the next week as well.

Traders said that due to the extension of the period of free grain distribution scheme, the demand for wheat and flour in the open markets is likely to remain weak. Apart from this, availability of cheap wheat of ration scheme will continue. There was expectation in the market that if the scheme is not extended further after November, the supply of ration wheat will be completely stopped, which will support the price. But this expectation faded due to the recent decision of the government on ration scheme. For this reason, flour mills and atta chakkis are buying less wheat.

In the mandis of eastern UP including Kanpur in Uttar Pradesh, the price of wheat was further sold lower by Rs 10 at Rs 2000-2010 per quintal as buying from flour mills remained weak for the third day today. The price has fallen by Rs 30 in the last three days. According to Kanpur-based broker Anil Gupta, there is not much arrival in the market but the buying from mills is weakening. In the mandis of Western UP including Bareilly, thedelivery price of mill quality wheat decreased by Rs 5 to Rs 2070-2080 and the prices in the mandis declined to Rs 1970-1980 per quintal.

In Begusarai, Bihar, the market price of wheat remained lower by Rs 30 at Rs 1970-2000 per quintal. At the same time, the price of warehouse wheat moved lower by Rs 30 per quintal at Rs 2000-2020 as purchases from mills have almost stopped. Due to the extension of free ration scheme of the government, the buying from all types of buyers in Bihar has slowed. The sellers were forced to reduce the prices due to the retreat of the buyers. In most of the mandis of Madhya Pradesh including Indore, there was a fall of Rs 25 in mill quality wheat.

According to traders, the fall in prices was due to sluggish demand in the mandis. But the flour mills of MP are buying mill gate grain at a higher price of Rs 10 as they did not buy enough earlier.

Wheat in Rajasthan traded unchanged with an underlying sentiment of softening. About 3500 bags (100 kg per bag) arrived in Hadauti area. The arrival in the mandis of the entire state is estimated to be 7000-8000 bags. In Delhi, wheat is being sold at the previous price of Rs 2130-2150 per quintal (mill -gate). In Delhi, the arrivals on Lawrence Road today decreased from 5500 bags (50 kg per bag) to 4000 bags, while by adding the supply of all the mandis and direct mills & atta chakkis, the arrival in entire Delhi is estimated to be 15-20 thousand bags.

Market

Wheat Variety

27-Nov

26-Nov

Change

Delhi (Ex mill)

Mill quality

2130-2150

2130-2150

0

Kota, Rajasthan

Mill quality

1970-2000

1970-2000

0

Tukdi

2020-2080

2020-2080

0

Bundi, Rajasthan

Mill quality

1950-1980

1950-1980

0

Tukdi

2000-2050

2000-2050

0

Baran, Rajasthan

Mill quality

1950-1975

1950-1975

0

Tukdi

2020-2070

2020-2070

0

Indore, (M. P.)

Mill quality (Bilty)

2000-2025

2025-2050

-25

Lok-1

2050-2150

2050-2150

0

1544

2050-2150

2050-2150

0

Malavraj Poshan

2050-2325

2050-2325

0

Kanpur (Ex mill)

Mill quality

2000-2010

2010-2020

-10

Bareilly (Ex mill)

Mill quality

2070-2080

2070-2085

-5

Mill quality- Loose

1970-1980

1970-1985

-5

Begusarai, Bihar

Mill quality- 343

1970-2000

2000-2030

-30

Warehouse

2000-2020

2020-2050

-30

(By Commoditiescontrol Bureau: +91-22-40015505)


       
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