Record rise in wheat prices even before Diwali

The price of wheat has increased again before Diwali. We tell you that due to this, the price of wheat in the national capital Delhi has reached Rs 27,390 per metric ton in the wholesale market. It is said that its price may increase in the coming days. Earlier, the price of wheat touched the seventh sky in January as well.

Inflation is not coming down despite many efforts by the central government. The situation is such that when one thing becomes cheap, another thing becomes expensive. Prices of tomatoes and green vegetables have come down. Now wheat has become expensive again. Wheat prices are said to have reached their highest level in 8 months ahead of the festive season. In this situation, the possibility of food inflation has increased again. Also, due to the import duty, the traders said that the import of food products from abroad is being affected. Due to this, the pressure on the government to withdraw the export duty is increasing. In this situation, to control inflation, the central government has to release food items like wheat and rice from government reserves from time to time.

If the price of wheat increases, the price of these food items will also increase.

According to agricultural experts, the demand for wheat in the market increases during the festival days. At the same time, wheat supply has been hit hard by rising demand, which has pushed prices to their highest level in eight months. Retail inflation is likely to rise further in the coming days if this trend of price hikes continues. Wheat is a grain from which a variety of food items are made. if Increase in price of wheat If this happens, various food items including roti, biscuit, bread, cake will become very expensive.

Government of India 40% import duty on wheat

To top it all off, in the national capital Delhi, wheat prices recorded a 1.6% rise on Tuesday. Due to this, the price of wheat in the wholesale market has reached Tk 27,390 per metric ton, which is the highest level since February 10. It is said that the price of wheat has increased by about 22 percent in the last six months. Also, Roller Flour Millers Federation president Pramod Kumar S demanded the central government to withdraw duty on import of wheat. He said, if the government removes the import duty on wheat, then its price can definitely come down. In fact, the Indian government has imposed a 40% import duty on wheat, and there do not appear to be any immediate plans to remove it.

Also Read: The countrymen will not fall under the shock of inflation during the festive season – Food Secretary Sanjeev Chopra

This is how the price of food will decrease

Also till October 30, the government said wheat store India had only 24 million metric tonnes of wheat in stock. This is very less than the five-year average of 37.6 million tonnes. However, the Center has collected 26.2 million tonnes of wheat from farmers for the 2023 crop season, short of the target of 34.15 million tonnes. At the same time, the central government has estimated that wheat production in the 2023-24 crop season will be around 112.74 million metric tonnes. It will reduce the price of food.

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