Wheat prices up in Delhi on high demand; down on NCDEX.

Wheat prices in the key wholesale market of Delhi rose due to strong demand from private players and high prices under the government’s open market sales scheme. Demand from private players was firm as imports are no longer a viable option due to high global prices, and government sales are also expensive. For 2017-18 (Apr-Mar), government has set the reserve price for wheat under open market sales scheme at 1,790 rupees per 100 kg, to which an additional cost equivalent to ex-Ludhiana freight would be added for non-procuring states. In Indore, the benchmark market for weak, demand has been muted for the last two days.