Wheat prices jump to record high due to strong demand, supply crunch

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The story "Wheat prices jump to record high due to strong demand, supply crunch" was covered 1 weeks ago by Business Standard, a news publisher based in India.

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Wheat prices jump to record high due to strong demand, supply crunch - Business Standard

Quick Summary:

The record prices are likely to lift retail inflation that surged to a 14-month high in October, driven by a jump in vegetable prices and dashing hopes of an interest rate cut by the central bank next month.

The government needs to start releasing stocks immediately, or prices will rise further," he said.

Wheat stocks in state warehouses were 22.3 million tons at the start of November, slightly higher than the last year's 21.9 million tons, but far below five-year average of 32.5 million.