Wheat arrival in mandis takes a dip
Wheat arrivals in Punjab mandis have witnessed a notable decline after peaking last week. On Friday, only 3.17 LMT was recorded compared to 12.83 LMT on April 25. The slow lifting of procured stocks has resulted in 58.71 LMT out of 116 LMT being lifted so far. While 6.50 LMT was procured by private millers, the government agencies bought the rest. The state aims to procure 132 LMT this season, with wheat covering 35.07 lakh hectares and an estimated production of 161.30 LMT.
Chandigarh: The daily arrival of wheat in Punjab mandis for the ongoing procurement season, which started of April 1, has taken a dip after registering the peak last week. On Friday, the day’s arrival stood at 3.17 lakh metric tonnes (LMT), a sharp decline from 12.83 LMT that arrived on April 25, followed by 11.66 LMT on April 26. The daily arrival hovered around 8 LMT on April 27 and 28, but came down to 5.08 LMT on April 29.
A total of 4.50 LMT of wheat arrived in the mandis on Thursday. The lifting of the procured wheat stocks
continues to be slow and 58.71 LMT of the total 116 LMT procured so far had been lifted till Friday. Of the total procured wheat, 6.50 LMT was procured by private millers while the rest had been bought by the govt agencies. The payment of Rs 23,325 crore to the farmers has been cleared by the department of food and supplies. The state govt has set a target of procuring 132 LMT wheat during the ongoing procurement season. However, with harvesting picking up in many districts, the sudden increase in the arrival of stocks has exposed the lack of 5 reasons to be bullish on wheat this year Wheat arrival in mandis takes a dip 192 PTS increase in the arrival of stocks has exposed the lack of proper arrangement in several grain markets. This year, the area under wheat is 35.07 lakh hectares and the estimated production is 161.30 LMT. TNN
Source Link: https://timesofindia.indiatimes.com/city/chandigarh/wheat-arrival-in-mandis-takes-a-dip/articleshow/109829046.cms
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