New Delhi, April 24 (CommoditiesControl): Wheat prices remained steady or saw slight increases across major Indian markets today. This trend is attributed to continued stockist buying and active government procurement of wheat. Additionally, the Department of Food and Public Distribution (DFPD) has taken measures to monitor wheat transportation by private entities, potentially impacting prices.
In Bihar, wheat prices held steady with a positive bias. Delhi prices decreased slightly, while Rajasthan and Gujarat saw new wheat prices rise. Uttar Pradesh maintained steady prices, and Madhya Pradesh experienced a price increase. South Indian markets like Hyderabad and Bangalore also reported higher prices for MP new wheat.
Lower government procurement figures compared to last year could support higher prices. Additionally, recent rainfall in Punjab and Haryana has delayed harvesting due to higher moisture content in the wheat. Farmers are also reporting lower yields and may hold onto their supplies, further affecting prices.
Market analysts expect wheat prices to remain steady or increase further in the near term. However, long-term price trends will depend on the final government procurement figures and potential changes in import duties. Please note that wheat prices are subject to market fluctuations.
(By Commoditiescontrol Bureau: 09820130172)
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