As the new wheat crop floods the markets, prices are seeing a downturn. This contrasts starkly with the scenario just a month ago when demand outstripped supply, causing an eight-month high in prices. Some markets even saw wheat being sold at almost double the MSP. However, with increased arrivals, prices have balanced out.
According to the Agmarknet portal of the Union Ministry of Agriculture and Farmers Welfare, except for specific markets like Bengaluru and Shimoga in Karnataka, where wheat prices are higher (Rs 4300 per quintal), most mandis across the country are selling wheat below Rs 4000 per quintal. Some markets like Badnavar Mandi reported prices even below the MSP, at Rs 2130 per quintal.
In contrast, places like Vidisha Mandi in Madhya Pradesh saw wheat being sold at Rs 3800 per quintal, which is relatively higher. Sangli Mandi in Maharashtra fetched the best price at Rs 3800/quintal, while the lowest was at Rs 2200/quintal in Aurad Shahjani Mandi. Across states like Rajasthan and Uttar Pradesh, the average wheat price hovers around Rs 2500/quintal, slightly above the MSP, but in several markets, it has dipped below the MSP.
Remember, the price of crops often varies based on their quality, and traders factor this in when setting prices. For a comprehensive list of crop prices in various markets, you can visit the official website https://agmarknet.gov.in/.
