BEARISH IN WHEAT AND HIKE IN MUSTARD MARKETS ENCOURAGING THE INDIAN FARMERS TO SHIFT TOWARDS MUSTARD CROP.
Domestic market update and future projection Wheat in Delhi Lawrence road offered at Rs. 1760 Vs Rs. 2225 per quintal in last year at same time and in Kota at 1870 per quintal Vs Rs. 2175 per quintal in 2019. Prices of wheat in Indore rose at Rs. 1810 per quintal comparatively to last few days as arrivals declined. A marginal rise in demand ahead of the festival season also supported prices. Arrivals are pegged at 800 bags (1 bag = 100 kg) compared with 1,000 bags. Prices increased in Jaipur, too (Rs.1780 per quintal), as arrivals fell slightly amid firm demand. In Jaipur, arrivals are pegged at 1,200 bags as against 1,400 bags. Arrivals of wheat are likely to fall steadily in the coming days as farmers and stockists have exhausted their inventories. Wheat prices are likely to rise further in the coming weeks as bulk buyers expect demand to increase during the festival season. Good wheat production in Australia will influence the India wheat trade and prices which are al...