Mumbai, December 11 (CommoditiesControl): Wheat prices have remained steady across major markets today, influenced by the government's revision of stock limits and the ongoing Open Market Sale Scheme (OMSS) auction. Additionally, wheat sowing has reached 23.9 million hectares by December 6, showing a 2% increase compared to the same period last year.
The government recently revised stock limits for various stakeholders:
- Traders/Wholesalers: Stock limit reduced from 2,000 MT to 1,000 MT.
- Retailers: Stock limit reduced from 10 MT to 5 MT per retail outlet.
- Big Chain Retailers: Stock limit reduced from 10 MT per outlet and 10 times the number of outlets at depots to 5 MT per
outlet, with a maximum quantity based on the number of outlets.
- Processors: Stock limit reduced from 60% of Monthly Installed Capacity (MIC) to 50% of MIC for the remaining months until April 2025.
In the spot markets, Delhi wheat remained steady at INR 3,110 per quintal, compared to the previous session. Uttar Pradesh (UP) traded neutrally at INR 3,000 per quintal, while Madhya Pradesh (MP) held steady at INR 2,980 per quintal. Gujarat prices were unchanged at INR 2,990 per quintal, and Rajasthan also traded neutrally at INR 2,990 per quintal. Bihar wheat remained steady at INR 2,990 per quintal, and Kolkata wheat held steady at INR 3,250 per quintal. South Indian wheat saw a slight decline of INR 20, trading at INR 3,340 per quintal.
In the OMSS auction today, the highest bids were observed in southern states like Andhra Pradesh (INR 3,140 per quintal) and Assam (INR 3,393 per quintal). Due to the low auction quantity, 100% of the allocated quantity was purchased in each state, highlighting the physical shortage in the wheat market.
Given the tight supply situation and government interventions, wheat prices are expected to remain steady to firm in the near term.
(By Commoditiescontrol Bureau; +91 98201 3018)
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