New crop supplies contain wheat prices
   Date :11-Mar-2023
wheat prices
Business Bureau
The arrival of the newly harvested wheat crop has started in the Kalamna marketyard resulting in prices falling by Rs 400 per quintal across all varieties. The daily arrival of wheat in the wholesale market is between 2,000 to 3,000 quintals (about 20 trucks) and is expected to increase in the next month. On account of favourable climate conditions the wheat production is expected to be better than the previous season. This may exert tremendous pressure on wheat prices and make them drop further, said Ramesh Umate of Pratik Trading, a wholesale wheat trader.
According to Umate, the old stock of MP Bot Sharbati premium variety after hitting a high of Rs 3,800 to Rs 4,000 per quintal has declined to Rs 3,400 to Rs 3,600 per quintal, a fall of Rs 400 per quintal. Similarly, the old Lokwan wheat variety which augmented to Rs 3,000 to Rs 3,200 has fallen to Rs 2,600 to 2,800 per quintal.
In the wholesale market, the new crop of Sharbati MP Bot 1544 variety is being quoted at Rs 2,800 to Rs 3,000 per quintal. Also, the new crop of Lokwan premium variety is being quoted at Rs 2,700 to Rs 2,800 per quintal. The Mill quality wheat is being quoted at Rs 2,300 to Rs 2,500 per quintal.
Umate further said that the production of the newly harvested wheat crop is anticipated to be better than the previous season. A major portion of the crop comes from Madhya Pradesh where farmers cultivate wheat over an extensive area of land. At present, the new crop supplies are lower as they have just started to arrive about 20 days ago in the market. Total amount of wheat which that arrives in the market is not consumed in the city. The excess wheat is despatched to other cities. The Kalamna marketyard serves as a central hub to despatch wheat to Chandrapur, Wardha, Bhandara among other places in the country.