Wheat Price Today in India - 25 May 2024 (2024)

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What is the price of wheat in India in 2024? ›

Wheat price today

As per the latest market rates, the average Wheat price is ₹2479.13/Quintal.

LAHORE: Punjab cabinet, which met here on Wednesday with Chief Minister Maryam Nawaz Sharif in the chair, accorded approval for fixing minimum support price of wheat for the year 2023-2024 at Rs 3900 per 40kg and also approved Wheat Procurement Policy 2024-25.

India's wheat harvest in marketing year 2023-24 (April-March) is likely slightly lower year on year, at 107 million-108 million mt, as market participants saw a slight drop in yields despite steady acreage under the crop, an S&P Global Commodity Insights survey of 13 analysts and traders found.

Output, though higher than last year's 102.9 million tonnes, remains short of government projections of 112 million tonnes. India's wheat production for the 2024-25 marketing season is projected to reach nearly 106 million tonnes, marking an increase from the previous year but falling short of the government's forecast ...

Because of last year's lower purchases, wheat inventories in government warehouses fell to 9.7 million metric tons at the start of March, the lowest since 2017. Lower wheat inventories tend to stoke open market prices.

"Swaraaj Wheat- 100% MP Sharbati" is grown in the Sehore region of MP and is the most premium variety of wheat grain available in the country. Sehore region has a black cotton and alluvial fertile soil that produces these special grain variety called Sharbati.

As of the latest available data, the average wholesale price of wheat in the United States is approximately $0.46 per kg.

The MSP of wheat for the RMS 2024-25 is Rs 2,275 per quintal, up from Rs 2,125 per quintal in the 2023-24 rabi marketing season. The support price for wheat has been raised by about 7.05 % over last year. The MSP of barley has been increased by Rs 115 per quintal (about 6.62%).

What is the government rate of wheat in 2024 in Haryana? ›

Ahead of assembly polls in key wheat growing states, the government on Wednesday announced an increase in the minimum support price (MSP) of wheat by ₹150 to ₹2,275 per quintal for the 2024-25 marketing season. This is the highest increase by the Narendra Modi-led government since it came to power in 2014.

With U.S. wheat ending stocks forecast to build for the second consecutive season and larger corn supplies expected, the season-average farm price for wheat is forecast at $6.00 per bushel, down $1.10 from the previous season and well below the record of $8.83 in 2022/23. F: denotes forecast year.

2203 – 2390 (Common) and Rs. 2340 – 2810 (Grade-A) at the time of harvesting (March to May 2024).

Given minimum stock-level requirements, India could therefore be required to import wheat in 2024, especially if crop yields fall below expectations. At present, the India's Ministry of Agriculture and Farmers Welfare forecasts an average wheat yield of 3.52 tonnes per hectare, in line with that achieved in 2022/23.

The main destination of Wheat exports from India are: Bangladesh ($735M), Indonesia ($325M), South Korea ($223M), United Arab Emirates ($206M), and Yemen ($141M). The fastest growing export markets for Wheat of India between 2021 and 2022 were Indonesia ($226M), South Korea ($210M), and United Arab Emirates ($70.5M).