New Delhi: The price of wheat touched a record high in India. The price of wheat was already high in the country due to Russian invasion of Ukraine. Wheat is priced at 435 euros ($453) per tonne.
Earlier the Union government had banned the export of wheat. On Sunday, the Union government extended the wheat procurement till May 31. The extension will be applicable in 6 states including Uttar Pradesh and Madhya Pradesh. Wheat procurement was scheduled to end on May 10 in Rajasthan and on May 15 in Uttar Pradesh, Madhya Pradesh, Bihar, Gujarat and Himachal Pradesh. The wheat procurement target has been revised to 19.5 million tonnes from the earlier target of 44.4 million tonnes for this year.
As per data, till May 14, around 18 million tonnes of wheat have been purchased for the Central pool. This is 51% less than the same period last year. Wheat production in the country declined this year due to rise in heat in the wheat growing months. The ministry further said the government’s procurement has been less so far this year mainly due to the higher market prices than MSP, wherein farmers have been selling wheat to private traders.