Wheat Market Price Update: Wheat prices have been consistently rising, and there seems to be no sign of this trend slowing down. Despite the government's imposition of stock limits, wheat prices continue to soar. Currently, the market price of wheat is about 30% higher than the Minimum Support Price (MSP). Although the government is trying to control wheat prices, there has been no concrete action to bring them down. Wheat prices are at record highs, presenting a great opportunity for farmers, especially those who have stocked their wheat crop. They can make good profits by selling their wheat at these high rates.
According to the Department of Food and Public Distribution, wheat prices have risen by ₹20 per quintal over the past week. Currently, the market price for wheat stands at ₹2,966 per quintal, which is 3.53% higher compared to December 2024. Compared to one year ago, this is 17% higher, and 53% higher than the prices from three years ago.
The central government has set the MSP for wheat in 2025 at ₹2,425 per quintal. Currently, the market price of wheat is ₹2,966 per quintal, which is approximately 30% higher than the MSP.
Wheat Prices in Key Rajasthan Mandis:
Wheat Prices in Key Gujarat Mandis:
Reasons for the Surge in Wheat Prices:
According to media reports and trade analysts, the primary reason for the rise in wheat prices is the "off-season," with farmers holding back their stock from entering the market. They are reluctant to sell their crops before the next harvest. Additionally, FMCG companies, such as biscuit and bread manufacturers, have increased their wheat purchases, thereby driving up demand in the market. Delays in the supply of wheat by the Food Corporation of India (FCI) have also contributed to the price hike.
Future of the Market and Price Trends:
Experts believe that wheat prices may continue to rise for the next few weeks, possibly until April. After the new harvest, however, there is an expectation of a price decline.
Advice for Farmers: Farmers are advised to stay updated on the market prices in their local mandis before selling their wheat, as prices fluctuate daily. The quality of the wheat also affects its price, with higher-quality wheat fetching better rates.
