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Wheat Price Hike: In view of the rising prices of wheat in the domestic market after the Russia-Ukraine war, the government had banned the export of wheat in the month of May. Although it is a different matter that after this step of the government, the prices of wheat have not softened. But despite the ban, India has exported wheat worth $1.5 billion i.e. Rs 12,400 crore.
Wheat export worth Rs 12400 crore
Recently, the government informed the Parliament that between April and October of the financial year 2022-23, India has exported 46.56 lakh tonnes of wheat, whose value is $ 1.5 billion. The government told that the export of wheat was banned, but seeing the food security of many countries, the government had exported this wheat after their request.
Rise in wheat prices, flour also became costlier
Despite the government’s ban on export of wheat in May, wheat was also exported, along with a jump of 25 to 30 percent in the prices of wheat since May 2022 in the domestic market. If the prices of wheat increase, it is bound to have an impact on the prices of flour. According to the data of the Ministry of Consumer Affairs, there has been a huge increase in the prices of wheat and flour. On December 26, the average price of wheat is Rs 31.99 per kg, while the maximum price is Rs 48 per kg, the minimum price is Rs 19 per kg and the modal price is Rs 28 per kg. On the other hand, the average price of flour has reached Rs.36.87 per kg, while the maximum price has reached Rs.66 per kg. The modal price is Rs.35 per kg and the minimum price is Rs.23 per kg.
Wheat stock at 6 year low
Recently it came to know that on December 1, 2021, there was a stock of 37.85 million tonnes of wheat in the godowns of the government, which has come down to 19 million tonnes. However, it will take four months for the new crop of wheat to enter the market. It is believed that until the new yield of wheat comes in the market, there is very little hope of softening the prices. The government said that 186 exports were allowed to export wheat. In the first seven months of 2022-23, India has also exported 24.10 lakh tonnes of basmati rice, which is valued at $ 2.54 billion.
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