Wheat prices fall in Delhi as harvest season nears.

Wheat prices fell in key wholesale market of Delhi as harvest season is coming closer and supply is already high. Wheat harvest in second largest producer, Madhya Pradesh,starts by the end of February and fresh supplies are expected to start pouring in by beginning of March. This will create supply pressure in an already inundated market. Wheat supplies in the market are already high as there was a record high output in 2016-17 (Jul-Jun), but offtake was weak as big buyers built stocks from imported wheat.