Wheat prices fall below MSP of Rs 1,735 on fresh arrivals and weak quality

Wheat quality in MP is usually better than North Indian wheat and the state government there has announced a bonus of Rs 265 per quintal above MSP Wheat prices have fallen below the minimum support price of Rs 1,735. Prices started falling from the second half of March as new crop started arriving from Madhya Pradesh, Rajasthan and Gujarat, aong other states. Early crop was damaged due to late-season hailstorms a month ago and small farmers has also started selling in market without waiting for procurement. In last two weeks, prices in producing mandis have fallen 6-8 per cent on average.

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