Wheat Market report

There is a possibility of change in the wheat market due to the expectation of government stocks coming down, although the price of wheat in the national capital Delhi has reached Rs. It is expected to reach an all-time high, but as expected, the market sentiment may change if the Corporation (FCI) starts offloading wheat stocks from the central pool into the open market. The government is understood to be considering making 2 million tonnes of wheat available under the open market sale scheme and an announcement could be made any time. Certainly the reserve price of government wheat will be below the prevailing price in the domestic market as it has been procured at the minimum support price of Rs 2015 per quintal. Some more expenses can be added to this. At the national level, the area under wheat has increased by 3.2 percent from last year's 302.60 lakh hectare to 312.26 lakh hectare this time, while the process of sowing is still going on. If Indian food total area is expected to be 5-7 percent more than last year. Compared to last year, this time the area under wheat production has increased from 91.40 lakh hectare in Uttar Pradesh to 79.50 lakh hectare in Madhya Pradesh, 26.90 in Rajasthan to 28.80 lakh hectare, in Gujarat from 9.90 lakh hectare to 11.60 lakh hectare, in Maharashtra It increased from 7 lakh hectare to 8.50 lakh hectare and jumped from 15.60 lakh hectare to 17.10 lakh hectare in Bihar but slipped from 35 lakh hectare to 34.90 lakh hectare in Punjab and fell from 23.50 lakh hectare to 23.20 lakh hectare in Haryana. The minimum support price of wheat has been increased by Rs 110 from Rs 2015 per quintal to Rs 2125 per quintal. Wheat production is expected to be bumper in Rabi season 2022-23. Although the Ministry of Agriculture has expressed the possibility of wheat production coming down from 1096 lakh tonnes in 2020-21 season to 1068 lakh tonnes in 2021-22, but the US Department of Agriculture has put a production of less than 1030 lakhs and the industry trade sector has planted less than 1000 lakh tonnes. . The closure of a government scheme will protect the wheat stock which can be used for speculative intervention in the market. The picture may become completely clear in the next one week and till then wheat trading may slow down a bit.

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