Flour will not get wet in poverty! Wheat can be cheaper by Rs 4 to 6 per kg, the government took a big decision
To control the rising prices of wheat and its flour, the government on Wednesday announced to sell 30 lakh tonnes of wheat from its buffer stock in the open market. With this decision of the government, the prices of wheat and wheat flour may fall by Rs 5 to 6 per kg.
New Delhi. On the front of inflation, the common man is expected to get a big relief, because there is a possibility of a fall in the prices of wheat. According to business world and market sources, the decision taken by the government to sell 30 lakh tonnes of wheat in the open market may bring down the prices of wheat and wheat flour by Rs 4 to 6 per kg.
According to the Business Standard report, to control the rising prices of wheat and its flour, the government on Wednesday announced to sell 3 million tonnes of wheat from its buffer stock in the open market. This wheat will be sold through the Food Corporation of India (FCI) through various mediums in the next 2 months.
Wheat will be sold to flour mill owners
This wheat will be sold to flour mill owners through e-auction. At the same time, FCI will sell wheat at the rate of Rs 23.50 per kg to Public Sector Units, Cooperative Unions and other institutions to make flour by grinding wheat and deliver it to the public at a maximum retail price (MRP) of Rs 29.50.
Experts are less
likely to fall, however, the possibility of a major fall in wheat prices seems limited and prices will remain above the minimum support price (MSP) of Rs 21.25 per kg for 2023-24 (April to March). Market sources said unless the central government announces a bonus over and above the MSP for 2023-24, it could make the task of the center difficult to replenish its stocks in the new marketing season.
However, others are of the view that once the new wheat crop starts arriving in the market, prices in all producing states except Madhya Pradesh may fall below the MSP, provided production is good.
Let us tell you that the average price of wheat in the major cities of the country was Rs 33.43 per kg on Wednesday, while the price was Rs 28.24 per kg in the same period last year. At the same time, this year the average price of wheat flour was recorded at Rs 37.95 per kg and last year the price was Rs 31.41 per kg.
