Wheat prices up by Rs 2,500 a quintal

 
Wheat prices up by Rs 2,500 a quintal

New Delhi: The wheat prices have shot up to Rs 2,500 a quintal because of rise in demand and decline in production, sources said on Saturday. According to a few traders in New Delhi and in other parts of the country, the heatwave has led to decline in production of wheat this year, which has impacted the supply of the produce.

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A trader from Delhi Sunil Ahirwar says that the prices of wheat has been going up for the past five days. Similarly, another trader Karan Bishnoi said that the prices of wheat shot up by Rs 30 on Saturday. It is available in Delhi at Rs 2,550 a quintal. In Haryana, it is Rs 2,400 a quintal, and in Rajasthan the price is Rs 2,370 a quintal, he said. Sources said that mandi prices have been hovering around Rs 2,150 to Rs 2,175 a quintal since export ban was imposed on May 14 this year. The government data says that wheat export has increased because of the international demand-supply situation, rise in global commodity prices and the Russia-Ukraine conflict. Sources further said that the government might take some steps to arrest the prices of wheat.