Wheat Price Increase: Inflation will hurt more on festivals! Wheat prices rise again

Wheat Price Increase: Even though the Modi government at the Center has denied the news of importing wheat. But after the decrease in the production of wheat in the domestic market, prices are seeing a jump again. The festive season is about to knock. The demand for wheat increases during the festive season. But in the last one week, there has been a jump of 4 per cent in the prices of wheat. The cost of wheat means that the roti on your plate will become expensive because the flour will become more expensive. Experts believe that due to increase in demand, there is a possibility of further jump in the prices of wheat.

Government refuses to import wheat
This week, reports emerged that for the first time in 14 years, the government is considering importing wheat after a drop in wheat production, a drop in government procurement. Similarly, the reduction of import duty on the import of wheat is also being considered. But the government immediately denied the reports and said that there is no plan to import wheat.

decrease in wheat production
In the recently released fourth advance estimate, the Agriculture Ministry has said that wheat production is estimated at 106.84 million tonnes in 2021-22, which is lower than the earlier estimate of 111 million tonnes. In the monsoon session of Parliament, the Agriculture Minister had said that till July 1, 2022, the government has 285.10 lakh metric tonnes of wheat stock, which is more than the buffer stock limit of 275.80 lakh metric tonnes. It is believed that government procurement of wheat has been less due to heavy procurement by private traders. At the same time, the Ministry of Agriculture has said that the production of 106.84 million tonnes of wheat is estimated in 2021-22, which is less than the earlier estimate of 111 million tonnes.

Ban on export of wheat
Earlier in the month of May, the government had banned the export of wheat after the reduction in wheat production. So that the rising prices in the domestic market can be controlled.

read this also

Adani Beats Ambani: Know in which case Gautam Adani’s Adani Group left Mukesh Ambani’s Reliance Group behind!

Delhi-Varanasi Bullet Train Project: Know why Delhi-Varanasi Bullet Train Project hangs in balance?

Source link


Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: