Flour is being sold for Rs 38-40 per kg in loose and Rs 45-55 per kg in branded packs. Compared to the prices in January 2022, it is more than 40%. Commodity analysts say that if the government does not release the stock of wheat in the open market, then the price of flour may rise further.
In fact, the prices of wheat have been increasing continuously in the country for some time. Despite the ban on exports, wheat prices have increased by 7-10% in January. The government's minimum procurement price (MSP) for the current season is Rs 2,125 per quintal. But on Tuesday, the price of wheat reached a record level of Rs 31,00 per quintal in Indore.
Wheat was sold at Rs 3,150 in Delhi, while it went above Rs 3,200 in many parts of the country. Its effect is being seen not only on flour, but also on the price of all the products prepared from it.
Due to costlier wheat, the prices of flour, maida, semolina have also increased by 15-20% in a month. The mill owners, who were expecting the government to sell wheat in the open market, have also started buying wheat at an expensive price. Due to this flour is becoming expensive.
Indrajit Paul, senior manager of Origo Commodity, said that there are about 115 lakh tonnes of wheat in the government godowns. This buffer stock limit is 41 lakh tonnes more than 74 lakh tonnes. If the government does not sell wheat in the market under the open market sale scheme in 15 days, then the price of flour can increase by 5-6%.
Paul told that the new stock of wheat will come in the market in March-April. Only after that there is a possibility of a decrease in the price. However, in the meantime, if the government sells its stock, then the prices may start falling.