Source: Business Standard
Following a poor output in 2008-09 and 2009-10, prices rose steadily and the average all-India wholesale price reached a peak of Rs.6,660 a quintal in September 2010. Subsequently, with a good crop in 2010-11, prices dropped once again. Last year, the deficient monsoon, along with a 30% rise in the MSP for 2012-13, led to a spurt in prices from May to September; though prices did not touch the 2010 level, the peak in September was Rs.5,746.9 a quintal. While the 4th Advance Estimates have set the 2012-13 output higher by 7.3% over the previous year, over the past seven months, prices have fluctuated but stayed within the range of Rs.5,332 and Rs.5,490 a quintal; in July, the average all-India wholesale price was Rs.5,385.43 a quintal. The MSP for 2013-14 has not been revised upwards, and the monsoons have progressed well. Hence sowing has so far been on higher acreage than last year - prices can be expected to be stable this year.
IPM data till week ending August 3, 2013. The Indicus Price Monitor (IPM), a product of Indicus Analytics Pvt Ltd, tracks real-time wholesale prices for 60 agricultural products from about 3000 mandis across the country. Due to differences in methodology, the actual levels of the IPM differ from the corresponding Wholesale Price Index (WPI); however, the broad trends are in sync.