GET FREE TRIAL FOR WHEAT REPORTS
Prices of the wheat market remained mixed trend.
Wheat arrivals start, prices above MSP. According to officials and dealers, the freshly harvested wheat harvests for the current season (2023–24) have begun to arrive in the mandis of Madhya Pradesh, Gujarat, and Maharashtra.
According to officials, wheat shipments are being recorded in several states, and the starting prices are about equal to the season's minimum support price (MSP) of Rs 2275 per quintal. Monday saw over 12,000 quintals arrive in Sehore, one of Madhya Pradesh's biggest mandis, with prices ranging from Rs 2250 to Rs 2400 per quintal. “Wheat arrivals will accelerate over the next two weeks," Sehore dealer Gagan Gupta said.
India's wheat, rapeseed ravaged by rain just before harvesting.
Unfavourable weather might restrict wheat output growth and make it more difficult for the government to increase stockpiles. India, the second-largest producer of wheat in the world after China, depends heavily on this year's harvest.
India's wheat yield was severely reduced in 2022 and 2023 by hot and unusually warm weather, which resulted in a rapid depletion of state stocks. If the crop is low for the third time in a row, India will have no alternative but to import wheat.
