This year, after the expectation of a bumper yield of wheat, the rates of wheat flour, which kept on increasing for around a year, have now started to come down. In the last 15 days, the rates of wheat flour have dropped by 6 Rupees per KG. If experts are to be believed, then in the coming 7-10 days, these rates will further drop by 4-5 Rupees per KG. After this price drop, wheat flour will be available at 25-26 Rupees per KG in open markets.
Merely 15 days ago, these rates were at 35-38 Rupees per KG. It is noteworthy that the government had announced the sale of 30 lakh metric tons of wheat to open markets in order to curb the increasing rates in the retail market, so that the increasing rates of flour could be controlled. Nevertheless, in the meanwhile, the news of a bumper yield of wheat got spread, because of which, a large number of traders did not come forward to buy wheat from the Food Corporation of India (FCI).
As per the Ministry of Agriculture, this year’s wheat production can reach a record 11.2 crore metric tons. Prior to this, in 2020-21, record production of wheat took place in the country at 10.95 crore metric tons. However, the area of wheat production has gone up only by 1.39 hectares, with the total area under wheat production across the country being 343.22 lakh hectares, which was 341.84 lakh hectares the last year. But with the availability of irrigation water continuing, the production is expected to augment.