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Wheat estimates revised upward

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  • This means the Government would have to pay at least $55 to as much as 100 a tonne additionally. The question that the BJP is raising is that they could have procured more had they paid the domestic farmer this additional price over the Rs 750 a quintal that they paid across the wheat-growing states.

    Agriculture Minister Sharad Pawar has reiterated that imports are going to be a regular feature. This time, not so much for food security but for building a comfortable buffer. He said that another 3-5 million tonnes could be imported. They are hoping that that in November prices would ease when the Australian crop comes in.

    Wheat prices touched a 11-year high on the Chicago Board of Trade in June and traders expect little respite as world supplies are seen falling to a 30-year low due to erratic weather in the United States and drought in Russia and Ukraine. India’s under-reporting of its wheat production added to the world wheat crisis and hence prices.

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