Amritsar has witnessed an increase of 16% in procurement as compared to the previous year attributing to new technologies and ban on burning of crop residue in fields.
Total procurement here of 7,37,447 MT of wheat out of which nearly 93% has been purchased by the government agencies. While the government agencies have procured 6,87,256 MT of wheat, the private buyers have purchased 50,191 MT.
the government had fixed an MSP of Rs 2,125/q, while some agencies had paid Rs 2,130/q.
He said that a maximum increase of 20% in arrival was witnessed at Bhagatawala where a total of 83,976 MT of crop was procured.
Due to the imposition of a stock limit, a decline of Rs. 100/q was recorded in the markets.
Today there was a sharp decline in most of the mandis of Madhya Pradesh, Maharashtra
Also, there is a rumor in the markets that from June 28, the government will sell 10 to 15 lakh tonnes of wheat in the market under the open market sale plan, although this has not been confirmed by the government.
According to traders, due to weak buying, the market is likely to fall further by Rs. 50/q