Rise in Wheat Prices: Farmers Rejoice as Rates Cross Rs 5000 Mark | Know Wheat Rates in Different Markets

Key Highlights

• Wheat prices surpass Rs 5000 per quintal mark.
• Majority of mandis report prices above MSP.
• Experts foresee sustained upward trend.
• Farmers advised to monitor daily market fluctuations.

Farmers cultivating wheat are experiencing a wave of joy as prices for the crop continue to rise steadily. Since the start of this year, wheat prices in various markets have consistently surpassed the Minimum Support Price (MSP). Many mandis are now offering rates exceeding Rs 5,000 per quintal for wheat, indicating a promising year ahead for wheat farmers. Market experts predict that this upward trend is likely to continue, promising substantial profits for farmers in the upcoming season.

Also Read: Bonus Announced on Purchase of Wheat: A Benefit for Farmers

Market Insights

As per data from the Agmarknet portal of the Union Ministry of Agriculture and Farmers, Gadag Mandi in Karnataka recorded the highest wheat price on March 18, fetching Rs 5227 per quintal. Similarly, Bhikangaon Mandi in Madhya Pradesh also reported the same price for wheat. Other notable prices include Rs 4700 per quintal in Ashok Nagar Mandi, Rs 4560 per quintal in Ashta Mandi, and Rs 4000 per quintal in Himmatnagar Mandi of Gujarat. Across the board, wheat prices are soaring, significantly surpassing the MSP set by the Central Government for 2024 at Rs 2275 per quintal.

Wheat prices in major markets of Madhya Pradesh

Wheat price in major markets of Uttar Pradesh

Also Read: Wheat Procurement at MSP Begins in UP, Ensuring Fair Rates for Farmers

Wheat prices in major markets of Rajasthan

Wheat price in major markets of Gujarat

Wheat prices in Maharashtra markets

Wheat price in West Bengal markets

Wheat price in major markets of Karnataka

Future Market Trends

Market experts anticipate that the upward trajectory of wheat prices will continue in the foreseeable future. The arrival of wheat in markets across the country has commenced, with farmers content with prices exceeding MSP in most mandis. While there might be a marginal decline in prices in the coming months, experts believe that wheat rates will likely remain above MSP due to robust domestic demand and promising export market prospects.

Advice to Farmers

Farmers are advised to closely monitor local market prices before making any transactions, as prices fluctuate on a daily basis. The prices mentioned above represent the highest rates observed in major markets. It's crucial to note that wheat prices are influenced by factors such as quality, with Sharbati wheat commanding the highest prices. Farmers should be mindful of these variations while selling their produce in mandis.

Also Read: PM Swanidhi Yojana: 63 Lakh+ Workers Benefited from Rs 11 Crore Loans Without Guarantees

CMV360 Says

The surge in wheat prices brings optimism to farmers nationwide. With rates surpassing the Minimum Support Price, farmers can anticipate profitable returns. Market experts foresee this upward trend to continue, driven by strong domestic demand and promising export opportunities. Attention to monitoring local market fluctuations is advised for optimal transactions.