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

Business Standard LogoBusiness Standard19h ago

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.


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Article Details

Category: BusinessFinance

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 21:33:10 (19 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 437 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23556201

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About Business Standard

Business Standard Logo

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 295 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #49

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The story "Wheat prices jump to record high due to strong demand, supply crunch" was covered 19 hours ago by Business Standard, a news publisher based in India.

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