Flour mills struggle as wheat prices surge to record high: Report

Quick Summary:

Wheat stocks in state warehouses totalled 20.6 million tons at the start of December, slightly higher than the previous year's 19.2 million tons, but far below five-year average of 29.

The surplus wheat with the FCI is limited, preventing it from offering more to private players, said a New Delhi-based dealer with a global trade house.

But the curbs failed to bring down prices, which were trading around Rs 33,000 ($384.66) per metric ton in New Delhi, up from Rs 24,500 in April and far above the government fixed minimum support price of Rs 22,750  for last season's crop.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Wheat availability Wheat demand Agricultural prices Wheat stocks Minimum support price Inflation FCI Record high Food inflation Wheat reserves Supply shortage Flour mills Indian wheat prices

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-06 @ 20:13:44 (2 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 449 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 33 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 24917502

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