Wheat Prices Hit New Record High As Government Delays Wheat Stock Release In Open Market Atta Prices Shoots Up 40 Percent In 10 Months

Wheat Price Hike: Wheat prices continue to rise and now it has reached a record high. In January 2023, it was believed that in view of the huge demand, the government would sell wheat stocks in the open market to maintain the supply and keep a check on the prices. But the government has not done this till now, due to which a jump is being seen in the prices of wheat.

Prices increased due to delay in government’s decision!

In December 2022, it was indicated that 2 to 3 million tonnes of wheat would be released in the open market from flour mill owners to biscuit making companies. According to reports, on January 23, 2023, the price of wheat has reached a record Rs 29,375 per tonne in the Indore market. Only in the month of January 2023, there has been a jump of 7 percent in the prices. Whereas in 2022, there was an increase of 37 percent in the prices. On Monday, January 23, 2023, there has been a jump of 2 percent in the prices of wheat in Delhi and it has reached Rs.31508 per ton. According to experts, if the government does not release the stock of wheat in 15 days, then there can be a rise of 5 to 6 percent in the prices of wheat.

The softening of prices only after the arrival of the new crop!

The government has stopped the Pradhan Mantri Garib Kalyan Anna Yojana. After this decision of the government, FCI will have 113 lakh tonnes of wheat stock in its warehouse, which is more than the buffer stock limit of 74 lakh tonnes. The government has already banned the export of wheat, yet the prices of its wheat are on the rise. The new stock of wheat is expected to arrive in the market in March-April after which softening of prices can be seen. It was expected that the government would release the stock from its reserves, but it has not happened so far. After a huge jump in the prices of wheat and flour, the flour mill owners are demanding the government to make wheat available under the open market sale scheme.

Flour costlier by 40 percent in a year!

If you look at the movement of wheat and flour prices in the last one year, according to the data of the Ministry of Consumer Affairs, the average price of wheat on April 1, 2022 (Modal Price) was Rs 22 per kg, which went up to Rs 28 per kg on January 23, 2023. has reached. That is, there has been a jump of more than 27 percent in the prices during this period. The average price of flour, which used to be Rs 25 per kg on April 1, 2022, has reached Rs 35 per kg on January 23, 2023. Means flour has become expensive by 40 percent in less than 10 months. Due to the high cost of wheat flour, not only the bread on the plate becomes expensive, along with other things made from flour, biscuits, bread etc. also become expensive.

In this era of retrenchment, companies can save the jobs of the employees, there are also options to save the job