Record wheat production
According to the Ministry of Agriculture, this year there will be a record wheat production across the country. In this case 112 million metric tons of wheat can be produced. Due to which the price of flour is already going down. To control flour prices, the government announced the sale of 30 lakh metric tonnes of wheat in the open market.
At present, 1.64 crore metric tonnes of wheat is stored in the country’s warehouses. Adding only 54 lakh metric tonnes of wheat to the existing wheat will meet the demand of the new season. As a result, it is needless to say that there is going to be a surplus of wheat in the next season.
Recently, rocker NAFED, NCCF and FCI reduced wheat prices from Rs 23.50 to Rs 21.50 per kg for central storage. Also, in case of selling wheat as flour, it was asked to sell it at a maximum price of Rs 29.50. However, sources claim, now that price has been asked to sell flour at 27.50 rupees.
Production was lower last year
Cultivation of wheat has slightly increased in the current rabi season. This new wheat collection will start from March 15. But last season domestic production fell slightly. As a result, wheat export was banned by the Center in May last year to prevent the market crisis and price rise.
Incidentally, in the 2021-22 crop year (July-June), the wheat production in the country has dropped significantly. Wheat production decreased to 106.84 million tonnes from 109.59 million tonnes in the previous year.