Pune: Prices of Wheat, Gram, and Lentils Surge Ahead of Diwali Due to Declining Production
The recent decline in wheat, gram, and lentil production has led to substantial price hikes in both wholesale and retail markets ahead of Diwali. Open market prices for essential goods like wheat flour, semolina, gram flour (besan), and split chickpea lentils (chana dal) have exceeded government-set rates, with further increases expected due to lower domestic production and higher imports from countries like Australia and Turkey. As a result, consumers are facing rising costs, exacerbating financial burdens during the festive season.
Market Yard, 19th October 2024: The production of wheat, gram (harbhara dal), and lentils (masoor dal) has declined sharply this past season, leading to significant price hikes in both wholesale and retail markets. As Diwali approaches, the prices of these essential commodities, along with their by-products, are expected to rise further. The Central Government recently set a minimum base price for these products, but the market prices of wheat, semolina, maida, wheat flour, gram flour (besan), split chickpea lentils (chana dal), and lentils (masoor dal) are already surpassing those rates.
Experts predict that prices will continue to climb, adding to the financial burden on citizens who are already grappling with higher costs. Factors Behind the Price Surge The country, including the state, has experienced a significant decline in the production of wheat, gram, and lentils. For the past two to three months, the open market prices for these goods have consistently exceeded the government’s fixed rates. As a result, consumers are facing increased costs on a wide range of products made from these staples. Wheat in the Market Yard’s Bhusar Bazar is sourced primarily from Madhya Pradesh, Gujarat, and Rajasthan.
Gram imports come from Madhya Pradesh, Uttar Pradesh, Maharashtra, and even Australia, while lentils are imported from Madhya Pradesh and Turkey. The shortfall in domestic production has prompted larger imports, particularly of gram from Australia and lentils from Turkey. These factors have further driven up prices in the local markets. The rise in wheat prices has had a domino effect, pushing up the cost of products like semolina, flour, and wheat flour. Similarly, the increase in gram prices has led to hikes in the cost of split chickpea lentils and gram flour (besan). Traders anticipate that these prices will escalate even further in the coming days, particularly with the festive season nearing.
Open Market Prices vs. Government Rates Although the government has raised the minimum support price (MSP) for six crops, the open market prices for wheat, gram, and lentils remain much higher due to reduced production. The ongoing supply-demand imbalance is seen as the primary driver behind the rising costs.
Below are the latest price comparisons for wheat, gram, and lentils: – Wheat: – Previous rate: ₹2,300 – Government rate: ₹2,425 – Open market rate: ₹3,500 to ₹5,000 – Gram (harbhara dal): – Previous rate: ₹5,650 – Government rate: ₹6,000 – Open market rate: ₹8,000 – Lentil (masoor dal): – Previous rate: ₹6,400 – Government rate: ₹6,700 – Open market rate: ₹7,200 As the festive season approaches, consumers can expect to face further price increases, adding strain to household budgets across the region.
Source Link : https://www.punekarnews.in/pune-prices-of-wheat-gram-and-lentils-surge-ahead-of-diwali-due-to-declining-production/
Recommended for you
