Source: Business Standard
Though output recorded a high of 8.22 million tonnes in 2010-11, domestic prices rose due to low imports from Australia and Tanzania; domestic output fell in 2011-12 to 7.7 million tonnes, resulting in further stress on prices. It was only with cheap imports last year that prices moderated to some extent. At its peak, the all-India average whole sale price touched Rs 6,239 a quintal in September.
The latest for June so far has been an average of Rs 5,009 a quintal. Madhya Pradesh, Uttar Pradesh, Rajasthan and Maharashtra are the highest producing states of this rabi crop. The third advance estimates for 2012-13 have set production at a record 8.49 million tonnes, which will help keep price under check. However, despite huge demand, with good output expected from Australia as well, this year could see lower prices.
IPM data till week ending June 22. The Indicus Price Monitor, a product of Indicus Analytics Pvt Ltd tracks real-time wholesale prices for 60 agricultural products from more than 3,000 mandis across the country. Due to differences in methodology, the actual levels of the IPM differ from the corresponding WPI, however broad trends are in sync with each other.