Mandi Updates: Wheat Wholesale Prices Rise across Benchmark Markets

The wholesale prices of wheat rose across the benchmark markets as of March 29, according to the data from the Agmarknet portal run by the Union Ministry of Agriculture and Farmers Welfare. 

The month-on-month average wholesale prices of wheat, in March, increased to 2,573.92 Rs per quintal from Rs 2,493.15. Among all the regions, Karnataka saw the highest increase of around 16.4% to Rs 3,833 per quintal, followed by Telangana with a 5.3% increase to Rs 2,371. 

Other states and union territories where the wholesale prices increased are Gujarat, Delhi, Rajasthan, and Telangana. In Delhi, the prices increased by almost 5.20% to Rs 2,634 per quintal, and in Gujarat by around 2.40% to Rs 2,590. In Rajasthan and Chhattisgarh, the prices rose slightly by around 1.52% to Rs 2,474 and by 1.27% to Rs 2,241, respectively.

However, the wholesale prices of wheat fell in Madhya Pradesh, Maharashtra, Uttar Pradesh, Uttarakhand, and West Bengal. In Maharashtra, the prices slumped by 1.57% to Rs 2,568 per quintal, in Madhya Pradesh by 0.42% to Rs 2,355, and in Uttarakhand by 4.16% to Rs 2,350.

According to a recent press release, to maintain food security and prevent hoarding, the Centre has mandated that traders, wholesalers, retailers, big chain retailers, and processors across all states and union territories declare their wheat stock positions on the portal (https://evegoils.nic.in/) starting from April 1, 2024, and subsequently every Friday until further notice. As per the release, all respective legal entities must ensure timely and accurate disclosure of their stock on the portal.

For those interested in exploring the prices of various crops in their respective state markets, the official website agmarknet.gov.in provides a comprehensive list. Understanding the price dynamics of different crops and their quality assessment remains pivotal in navigating market fluctuations for farmers and traders alike.