Indian millers, traders feel the heat of growers holding back wheat as prices rule above MSP
India’s wheat production for the year is forecasted at 112.01 million tonnes, though actual estimates suggest around 105 million tonnes, higher than last year’s 5-6 million tonnes. Farmers withholding produce for better prices is impacting millers and traders. Pramod Kumar of RFMFI notes the scarcity in markets and procurement channels.
India’s wheat production this year is seen higher than the past two years but farmers holding back their produce expecting higher prices is affecting millers and traders. “Though the Ministry of Agriculture has pegged wheat production at 112.01 million tonnes (mt), we expect it to be 105 mt. This is 5-6 mt higher than our estimates last year,” said an international trading source.
“Though production is reported to be higher, wheat is not arriving in the markets. It is also not available for procurement,” said Pramod Kumar, President, Roller Flour Millers’ Federation of India (RFMFI).
Recommended for you
