Source: Business Standard
In July, it has been slightly lower at Rs.1,834.74, though the average all-India retail price of atta or flour is the highest, at Rs.22.72 a kg, in July. The minimum support price (MSP) has risen over the past decade and while the 2013-14 marketing season MSP was declared at Rs.1,350 a quintal, around 5% higher than the previous year’s, Madhya Pradesh and Rajasthan are offering a bonus to increase procurement. High wheat stocks brought permission for exports and open market sales this year. Around 4 million tonnes of wheat have been exported, fetching an extremely good price, averaging $311.69 a tonne,higher than the set reserve price. There is high demand for wheat, which will keep the price up.
IPM data till week ending July 6. The Indicus Price Monitor (IPM), a product of Indicus Analytics Pvt Ltd, tracks real-time wholesale prices for 60 agricultural products from more than 3,000 mandis. Due to differences in methodology, the IPM levels differ from the corresponding WPI, However, broad trends are in sync.