5 reasons to be bullish on wheat this year
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Most of the wheat has arrived in the mandis of and Haryana, the two states with the highest procurement.
And by all accounts it’s a good crop, providing much needed comfort to govt and private players. The crop, which comes on the back of a good yield this year – as high as 25-26 quintals an acre in parts of Punjab (against 22 quintals or so last year) – is much watched given that silos emptied out after two years of poor harvest Govt is grappling with the lowest level of wheat stocks in 16 years – a little over 75 lakh tonnes at the start of April against the buffer requirement of 74.6 lakh tonnes for this time of year – and globally, too, prices are under pressure.
