4-Limited Supplies, Robust Demand Push Wheat Prices In India To 6-Month High

1. Limited Supplies, Robust Demand Push Wheat Prices In India To 6 Limited Supplies, Robust Demand Push Wheat Prices In India To 6- -Month High High Month India is the second-largest producer of wheat worldwide. India's wheat prices have risen to a 6-month high. To keep prices under control, the government may lower or eliminate import taxes on wheat. Wheat Price Hike Wheat Price Hike Due to tight supply and a strong demand in advance of the festival season, wheat prices have risen to their highest level in six months, according to Reuters. The increase in wheat prices could intensify the inflation which the Indian Government and Reserve Bank of India (RBI) have been attempting to contain. According to a Delhi-based trader, farmer supplies in all major producing states have halted, and flour mills are finding it difficult to find adequate supplies in the market. The report states that on 8th August, wheat prices in Indore, Madhya Pradesh, increased by 1.5% to 25,446 rupees per metric ton, which is the highest price since 10th February, 2023. Wheat prices have risen by about 18% in the last four months. The Government estimates that foodgrain production in the current agricultural year would be around 3305.34 lakh tonnes. Meanwhile, Hon’ble Food Secretary, Mr. Sanjeev Chopra stated that the government is considering lowering or eliminating import taxes on wheat in order to keep staple prices stable. The government is desperate for the wheat price to be under control as Assembly elections are scheduled for this year in Rajasthan, Telangana, Madhya Pradesh, and Chhattisgarh. Tomato prices are rising exponentially, and prices of some other vegetables are already on the higher side.

2. In India’s Rice Export Policy Change dia’s Rice Export Policy Change The Indian government changed the export policy from "Free with export duty of 20%" to "Prohibited" with immediate effect in July 2023 in order to ensure adequate availability of Non Basmati White Rice on the domestic market and to keep prices under control. Retail prices have gone up 3% in the las Retail prices have gone up 3% in the last month and 11.5% over a year. About 25% of the nation's total rice exports are non-Basmati white rice. According to a press release from the Ministry of Consumer Affairs, Food & Public Distribution, the ban on the export of Non-Basmati White Rice will result in lower prices for the nation's consumers. t month and 11.5% over a year. If you are a wheat importer willing to buy wheat in bulk or a wheat exporter willing to export bulk wheat, then Tradologie.com is the right platform for you. Tradologie is a global digital trade hub that facilitates bulk agro-commodities trade in a transparent manner. Through Tradologie’s AI based platform, buyers and sellers can connect directly with each other in real-time, negotiate prices to get the best deals, without the involvement of any middlemen. This guarantees the best prices for both buyers and sellers on the platform, resulting in a significant decrease in the cost of trade by close to 10% overall. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.