Festive demand sends wheat prices higher; output estimate cut

Wheat prices have started increasing due to the festival demand, having risen 5-6% in the past week to cross the ₹27-per-kg mark in Delhi.

The wheat milling industry has demanded that the government either allow the import of wheat at zero duty or increase the sale by government agency FCI to increase availability in the market.

Meanwhile, the government has revised downwards wheat production estimate by 2.19 mt to a record 110.55 mt for the 2022-23 crop year ended June, as per the agriculture ministry data. The country's actual wheat production stood at 107.74 mt in the 2021-22 crop year (July-June).

(With inputs from PTI)