Winning Bizness Desk

Mumbai. Despite the ban on export of wheat, there has been no significant difference on its prices. 10 days after the verdict, the wholesale price has come down by hardly Rs 15 to 75 per quintal. This reduction has also not been seen in retail. Due to this, the hope of reducing the prices of biscuits, bread, noodles and other bakery items including roti has ended. According to experts, the price of wheat will increase further. Wheat can go up to Rs.3000/quintal by the end of the year.

Wheat prices fell by 4 to 8%

On May 13, the Center had stopped the export of wheat after the price of wheat reached Rs.2300/quintal in the country. The aim was to bring down the price of wheat. Wheat prices fell by 4 to 8% soon after the decision, but from the new week itself, the prices recovered. At present, wheat prices are Rs 15-75 per quintal below the level on the day of export ban.

42% fall in government stock

Tarun Satsangi, AGM (Commodity Research), warehousing and agrifintech company Origo E-Mandi said the reduction in wheat prices will not last long. This year the government stock has registered a decline of 42% as wheat production has come down. There will also be a decline in the sale of government wheat under the open market sale scheme compared to last year. In such a situation, the demand for wheat will remain in the open market.

Wheat may cross Rs 3,000 per quintal

Here, the arrival of wheat has almost stopped in most of the mandis of the country. Traders who have bought wheat at a higher price will not sell it at a loss. In such a situation, the price of wheat will start increasing due to deteriorating demand and supply equation. According to Satsangi, the price of wheat may cross Rs 3,000 per quintal level before the new supply.