Wheat open market tender average price falls in Delhi.

Under govt’s last open market sale for 2016-17 (April-March), the average price of wheat in Delhi fell in this week’s tender in which govt sold around 16,000 tonne of wheat in Delhi. Average price of the food grain fell because of anticipation that demand might shift to the new crop, which is expected to start arriving in Delhi next month. Arrivals of the new crop have already started in some parts of Madhya Pradesh and are likely to peak across the country in the beginning of April. Total quantity of wheat offered by the govt through open market sales in the country in March was at 85,600 tonne, while the actual sale was of 74,350 tonne. Wheat stocks in the govt’s central pool at a multi-year low of 11.55 million tonne as of Feb 1, 2017, compared to 20.34 million tonne a year ago.