Procurement of wheat at minimum support prices continues nationwide, with the exception of Haryana and Punjab, where other states are witnessing a gradual decline in arrivals at wheat procurement centers. Agricultural produce markets are experiencing reduced wheat arrivals, attributed primarily to a decrease in wheat production this year. Let's delve into significant aspects concerning wheat prices:
Wheat Procurement for the Year: A decision was made during a Ministry of Agriculture meeting for states and union territories to prioritize increasing market purchases to boost the nutritional quantity in food. The government procured 2.62 crore metric tons of wheat in the last fiscal year 2023-24, compared to 4.44 crore metric tons procured in 2022-23.
Estimated Wheat Production by the Central Government: As per the Ministry of Agriculture's second advance production estimate, the country is anticipated to achieve a record wheat production of 112.01 million metric tons. This estimate reflects an increase of 1.46 million metric tons from the previous record of 110.55 million metric tons in the 2022-23 fiscal year. Although the wheat cultivation area has decreased in major wheat-producing states like Maharashtra, Rajasthan, and Gujarat, it has increased in Haryana and Uttar Pradesh. The Agriculture Department attributes this significant impact on wheat production to the reduced government procurement and arrivals this year.
Current Wheat Prices: Wheat exports from southern states are priced between 3700 to 3900 per quintal. Besides the Lokwan variety, prices for GW 513, Sujata Sharbati, and Poorna Puran range from approximately 3000 to 4500 rupees per quintal. Furthermore, wheat prices in the agricultural produce market in Indore are estimated as follows: Malwaraaj Wheat 2450-2550, Lokwan 2650-3100, and Poorna 2560-2900 rupees per quintal.
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