The rise in the wheat market has been stable at the moment. Due to the ban on its export, the market had sharply decreased from $0,50 to $0,65 per kg, but then increased by $0,20 per kg. The export ban will not have a huge impact on the market.
There is a shortage of good quality goods in the wheat market at this time. Last year due to less rainfall, good wheat was very less ripe, whereas this year sowing is expected to be more due to more rainfall. Sowing will start after Navratri festivals.
No stockist could earn due to the heavy downturn in the wheat market this year. Wheat prices increased in the month of May due to the ban on export by the government.
The government will have to release the goods of FCI at any time. If the FCI tenders do not come in two months, then there may be a huge shortage of wheat. The government would start selling wheat keeping in mind the flour mills.
The government is selling rice to poor people instead of wheat and the scheme of free food grains is also likely to be stopped in the coming days, its effect will also be visible on a large scale on the wheat market. At present, wheat is not available in the open market.
The condition is critical as arrivals are less in the main markets, as well as after continuous rain, now there is a defect in stock and experts state there might be damage in new crop wheat quality.
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