Commodity Outlook – Wheat

Sowing period: October
Harvesting period: April to May
Crop season: Rabi

Key growing locations:

  1. Madhya Pradesh – Ujjain, Ratlam, Dhar, Sehore, Indore
  2. Punjab – Bathinda, Ropar, Sangrur, Ferozepur, Amritsar, Hoshiarpur, Gurdaspur
  3. Haryana – Hisar, Ambala, Kurukeshtra, Kaithal, Panipat, Sonipat, Jind
  4. Rajasthan – Kota, Baran, Chittorgarh, Bundi, Jhalawar
  5. Uttar Pradesh – Kanpur, Varanasi, Agra, Bahraich, Hardoi
  6. Maharashtra – Mumbai, Vashim, Dhule, Akola, Nandurbar
  7. Gujarat – Rajkot, Sabarkantha, Dahod, Junagarh, Ahmedabad

Production trend and Stock position:

  • As per the Ministry of Agriculture fourth advance estimate released on August 11, 2021, Wheat production for FY 2020-21 was 109.52 million metric tonne (MMT) compared to FY 2019-20 which was 107.86 MMT, up by 1.54 percent
  • In India wheat procurement for Rabi marketing season (RMS) 2021-22 has completed at 433.44 LMT for from thirteen states, wherein the Food corporation of India (FCI) had procured 37.71 LMT and State Agencies procured 395.73 LMT
  • About 49.20 lakh farmers have already been benefitted with MSP value of ₹ 85,603.57 crores from the RMS procurement operations
  • According to FCI, there were approximately 19,036 wheat procurement centres during RMS 2021-22
  • According to Directorate General of Commercial Intelligence and Statistics (DGCIS) India’s overall export of Wheat in 2021-22 (April) was 2.27 LMT valued at ₹ 439.17 crores

Monsoon Update

For the country as a whole, cumulative rainfall during this year’s monsoon season till September 30, 2021 is below Long Period Average (LPA) by 1 percent. Details of the rainfall distribution over the four broad geographical regions of India are given below:

Market commentary: Price outlook

  • The Government had increased the Minimum Support Price (MSP) of wheat by 2.03 percent to ₹ 2,015 per quintal for marketing season 2022-23 compared to ₹ 1,975 in 2021-22
  • Wheat prices are expected to be steady with no significant movement in the immediate / short term
  • Overall prices of wheat have been trading bullish with an upward trend

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